New Issue: Air Lease brings $500 million 2.125% notes due 2020 at 137.5 bps over Treasuries

By Cristal Cody

Eureka Springs, Ark., Sept. 26 – Air Lease Corp. priced $500 million of 2.125% senior notes due Jan. 15, 2020 on Monday with a spread of 137.5 basis points over Treasuries, according to a market source.

The notes (BBB-) priced on the tight side of guidance.

BofA Merrill Lynch, Goldman Sachs & Co., Santander Investment Securities Inc., Wells Fargo Securities LLC, BMO Capital Markets Corp., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Fifth Third Securities Inc., ICBC, J.P. Morgan Securities LLC, Lloyds Securities, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, MUFG, RBC Capital Markets Corp. and SunTrust Robinson Humphrey Inc. were the bookrunners.

The Los Angeles aircraft leasing company will use the proceeds for general corporate purposes.

Issuer:	Air Lease Corp.
Amount:	$500 million
Description:	Senior notes
Maturity:	Jan. 15, 2020
Bookrunners:	BofA Merrill Lynch, Goldman Sachs & Co., Santander Investment Securities Inc., Wells Fargo Securities LLC, BMO Capital Markets Corp., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Fifth Third Securities Inc., ICBC, J.P. Morgan Securities LLC, Lloyds Securities, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, MUFG, RBC Capital Markets Corp., SunTrust Robinson Humphrey Inc.
Co-manager:	Loop Capital Markets LLC
Coupon:	2.125%
Spread:	Treasuries plus 137.5 bps
Trade date:	Sept. 26
Rating:	S&P: BBB-
Distribution:	SEC registered
Price guidance:	Treasuries plus 140 bps area, plus or minus 2.5 bps

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