LOS ANGELES–(COMMERCIAL THREAD)–Air Lease Corporation (NYSE: AL) (the “Company”) announced on November 28, 2022 the price of its public offering of $700.0 million in an aggregate principal amount of senior unsecured medium-term notes at 5.85% maturing December 15, 2027 (the notes”). The sale of the Notes is expected to close on December 5, 2022, subject to the satisfaction of customary closing conditions.
The Bonds will mature on December 15, 2027 and will accrue interest at an annual rate of 5.85%, payable semi-annually in arrears on 15 June and 15 December of each year, starting from 15 June 2023.
The Company intends to use the net proceeds of the offer for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing debt.
BofA Securities, Inc., JP Morgan Securities LLC, SG Americas Securities, LLC and Truist Securities, Inc. are acting as joint running book managers for the offer 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 way of the prospectus supplement dated May 7, 2021, supplementing the base prospectus dated May 7, 2021, which may be further supplemented by any free written prospectuses and/or price supplements that the Company may file with the SEC. Before investing, you should read the base prospectus, the prospectus supplement and any other documents the Company may file with the SEC for the most complete information about the Company and this offering. You can obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained from: (i) BofA Securities, Inc. toll free (800) 294-1322, (ii) JP Morgan Securities LLC collection at (212) 834-4533, (iii) SG Americas Securities, LLC at (855) 881-2108 or (iv) Truist Securities, Inc. toll free (800) 685-4786.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor will 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 the registration or qualification under the securities laws of such states or jurisdictions.
This press release contains forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated closing of the offering and the anticipated 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 anticipated in the forward-looking statements due to a variety of factors, including, but not limited to, unforeseen delays in the Notes closing process, 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, 2021 and quarterly report on Form 10-Q for the quarter ended March 31, 2022.