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Air Lease prices $700M note offering

Air Lease Corp. priced its public offering of $700 million aggregate principal amount of 4.250% senior unsecured medium-term notes due Feb. 1, 2024.

Interest on the notes will be payable semiannually in arrears on Feb. 1 and Aug. 1 of each year, starting Aug. 1.

The company intends to use the net proceeds for general corporate purposes, including purchasing commercial aircraft and repaying debt.

The sale of the notes is expected to close on Jan. 23.

BMO Capital Markets Corp., J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc. and SunTrust Robinson Humphrey Inc. are acting as joint book-running managers for the offering.