ALC Warehouse lowers revolver size and interest; extends maturity

By Tali Rackner

Norfolk, Va., July 29 – ALC Warehouse Borrower, LLC, a wholly owned subsidiary of Air Lease Corp., decreased its revolving credit facility to $750 million from $1 billion, according to an 8-K filing with the Securities and Exchange Commission.

Credit Suisse AG, New York Branch is the agent.

The July 23 amendment also reduced the interest rate to Libor plus 200 basis points from Libor plus 225 bps.

In addition, the availability period was extended to June 2016 from June 2015, and the maturity date was extended to June 2020 from June 2019.

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

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