Air Lease increases, extends by a year revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, June 2 – Air Lease Corp. increased by $350 million and extended by a year its revolving credit facility, according to a company news release issued Tuesday.

The syndicated unsecured revolving credit facility’s maturity date was extended to May 5, 2019 from May 5, 2018, and its commitments were increased to $2.49 billion to mature in 2019 and $175 million to mature in 2018 from a total of $2.31 billion to mature in 2018, the company said.

JPMorgan Chase Bank NA is administrative agent in the deal.

The credit facility remains priced at Libor plus 125 basis points with a 25 bps facility fee, subject to reductions based on improvements in the company’s credit ratings.

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

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