ALC Announces $1bn Public Offering

Air Lease Corporation (ALC) is offering investors a total of $1bn in unsecured notes.

Air Lease Corporation (ALC) is offering investors a total of $1bn in unsecured notes.

The lessor is offering $500m of notes that will mature on January 15, 2018, with an annual interest rate of 2.125 per cent, payable from January 2015.

A further $500m of notes will mature on September 15, 2024, with an interest a rate of 4.25 per cent payable from March 2015.

The proceeds from the sale may be used to purchase more commercial aircraft.

The offering follows strong Q2 results for ALC, which posted a 23 per cent increase in revenue. At the end of June, the lessor had assets totalling $10bn and a fleet of 207 aircraft.

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