Air Lease prices public offering of USD500m of senior notes due 2018

Air Lease Corporation (NYSE: AL) said it has priced its public offering of USD500 million aggregate principal amount of 2.625 percent unsecured senior notes due 2018.

The notes were offered to the public at a price of 99.500 percent of par. The sale is expected to close on August 18, 2015, subject to satisfaction of customary closing conditions.

The notes will mature on September 4, 2018 and will bear interest at a rate of 2.625 percent per annum, payable semi-annually in arrears on March 4 and September 4 of each year, commencing on March 4, 2016.

The company said it 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.