Air Lease increases revolver to $3.13 billion, extends it to May 2020

By Tali Rackner

Norfolk, Va., May 31 – Air Lease Corp. amended and extended its unsecured revolving credit facility with administrative agent JPMorgan Chase Bank, NA, according to a press release.

Under the amendment, the company extended the maturity date to May 5, 2020 from May 5, 2019 and increased total revolving commitments to $3.13 billion from $2.78 billion, across 39 financial institutions.

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

Under the revolver, lenders hold revolving commitments totaling $2.78 billion that mature on May 5, 2020, with the remaining revolving commitments maturing prior to May 5, 2020.

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

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