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Air Lease prices debt offering

Air Lease Corp. priced its public offering of $500 million aggregate principal amount of 3.875% unsecured senior notes due July 3, 2023.

The notes will bear interest at a rate of 3.875% per annum, payable semiannually in arrears on Jan. 3 and July 3 of each year, beginning Jan. 3, 2019.

The company plans to use the net proceeds for general corporate purposes, which may include the purchase of commercial aircraft as well as debt repayments.

The sale of the notes is expected to close June 18.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Merrill Lynch Pierce Fenner & Smith Inc. and RBC Capital Markets LLC served as joint book-running managers for the offering.