Air Lease gets $853 million unsecured revolver at Libor plus 175 bps

By Sara Rosenberg

New York, May 7 - Air Lease Corp. closed on a new $853 million three-year unsecured revolving credit facility that is priced at Libor plus 175 basis points with no Libor floor, according to an 8-K filed with the Securities and Exchange Commission on Monday.

There is a 37.5 bps commitment fee.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., RBC Capital Markets, Wells Fargo Securities LLC, Commonwealth Bank of Australia and BMO Capital Markets acted as the joint lead arrangers and bookrunners on the deal that was completed on May 4.

Proceeds were used to refinance existing unsecured credit facilities and will be available for working capital and general corporate purposes.

Air Lease is a Los Angeles-based aircraft leasing company.

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