Air Lease Corporation Announces Pricing of Public Offering of $500.0 Million of Senior Unsecured Medium-Term Notes
January 17 2024 - 11:25PM
Business Wire
Air Lease Corporation (NYSE: AL) (the “Company”) announced the
pricing on January 17, 2024 of its public offering of $500.0
million aggregate principal amount of 5.100% senior unsecured
medium-term notes due March 1, 2029 (the “Notes”). The sale of the
Notes is expected to close on January 24, 2024, subject to
satisfaction of customary closing conditions.
The Notes will mature on March 1, 2029 and will bear interest at
a rate of 5.100% per annum, payable semi-annually in arrears on
March 1 and September 1 of each year, commencing on September 1,
2024.
The Company intends to use the net proceeds of the offering for
general corporate purposes, which may include, among other things,
the purchase of commercial aircraft and the repayment of existing
indebtedness.
BMO Capital Markets Corp., BofA Securities, Inc., Mizuho
Securities USA LLC, MUFG Securities Americas Inc. and Wells Fargo
Securities, LLC are acting as joint book-running managers for the
offering of the Notes.
The Notes are being offered pursuant to the Company’s effective
shelf registration statement, previously filed with the Securities
and Exchange Commission (the “SEC”) on May 7, 2021. The offering of
the Notes is being made only by means of the prospectus supplement,
dated May 7, 2021, supplementing the base prospectus, dated May 7,
2021, as may be further supplemented by any free writing prospectus
and/or pricing supplements the Company may file with the SEC.
Before you invest, you should read the base prospectus, prospectus
supplement and any other documents the Company may file with the
SEC for more complete information about the Company and this
offering. You may obtain these documents for free by visiting EDGAR
on the SEC’s website at www.sec.gov. Alternatively, copies may be
obtained from: (i) BMO Capital Markets Corp. toll-free at +1 (866)
864-7760, (ii) BofA Securities, Inc. toll-free at +1 (800)
294-1322, (iii) Mizuho Securities USA LLC at +1 (866) 271-7403,
(iv) MUFG Securities Americas Inc. toll-free at +1 (877)-649-6848,
or (v) Wells Fargo Securities, LLC toll-free at +1 (800)
645-3751.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there be any
sale of the Notes in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the expected closing of the
offering and the intended use of proceeds. Such statements are
based on current expectations and projections about the Company’s
future results, prospects and opportunities and are not guarantees
of future performance. Such statements will not be updated unless
required by law. Actual results and performance may differ
materially from those expressed or forecasted in forward-looking
statements due to a number of factors, including but not limited
to, unexpected delays in the closing process for the Notes,
unanticipated cash needs, and those risks detailed in the Company’s
filings with the SEC, including the Company’s Annual Report on Form
10-K for the fiscal year ended December 31, 2022 and Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2023, June
30, 2023 and September 30, 2023.
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version on businesswire.com: https://www.businesswire.com/news/home/20240117551107/en/
Investors: Jason Arnold Vice President, Investor Relations
Phone: +1 310.553.0555 Email: investors@airleasecorp.com
Media: Laura Woeste Senior Manager, Media & Investor Relations
Ashley Arnold Senior Manager, Media & Investor Relations Phone:
+1 310.553.0555 Email: press@airleasecorp.com
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