Aircraft lessor Air Lease Corporation (ALC) plans to raise $700m in its public offering by selling 3.38 per cent of unsecured senior notes, due 2019. The notes have been offered to the public at a price of 99.9 per cent of par. The sale of the notes is expected to close on 19 November, subject to conditions. They will mature on 15 January 2019 and will bear interest at a rate of 3.38 per cent per annum, payable semi-annually. ALC said it intends to use the net proceeds of the offering for general corporate purposes, which may include the purchase of commercial aircraft and the repayment of existing indebtedness.