ALC Offers $77m Of Secured Notes

Air Lease Corporation (ALC) has announced the pricing of an offering of $76.53m worth of secured notes. The notes have been guaranteed by the US Export-Import Bank. The sale of the notes is expected to close on March 11, 2013 and they will mature on August 15, 2024 bearing an interest at a rate of 1.6 per cent. The lessor will use the proceeds to partly cover the refinancing costs of two 737-800 aircraft and to finance the related premium charged by Ex-Im Bank for its guarantee of the notes. JP Morgan and Citigroup are acting as joint book-running managers for the offering.

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