Air Lease Corp. announced the pricing of a public offering of $600 million of 2.625% unsecured senior notes due 2022.
The notes were offered at a price of 99.553% of their face amount. The offering is subject to satisfaction of closing conditions and is expected to close June 12.
The notes will mature July 1, 2022, and will bear interest at an annual rate of 2.625%, payable semiannually in arrears on Jan. 1 and July 1 of each year, starting Jan. 1, 2018.
Air Lease intends to use the net proceeds for general corporate purposes, including the purchase of commercial aircraft and the repayment of existing debt.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. are acting as joint book-running managers for the offering.