New Issue: Air Lease prices $500 million 3.875% senior notes due 2023 at 125 bps over Treasuries

By Cristal Cody

Tupelo, Miss., June 11 – Air Lease Corp. (BBB/BBB) sold $500 million of 3.875% five-year senior notes on Monday at a spread of 125 basis points over Treasuries, according to a market source.

Initial price talk was in the Treasuries plus 137.5 bps area.

BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and RBC Capital Markets, LLC were the bookrunners.

Proceeds will be used for general corporate purposes, which may include the purchase of aircraft and payment of existing debt.

The aircraft leasing company is based in Los Angeles.

Issuer:	Air Lease Corp.
Amount:	$500 million
Description:	Senior notes
Maturity:	July 3, 2023
Bookrunners:	BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and RBC Capital Markets, LLC
Senior managers:	ABN Amro Securities (USA) LLC, Arab Banking Corp. B.S.C., BMO Capital Markets Corp., BNP Paribas Securities Corp., Fifth Third Securities, Inc., ICBC Standard Bank plc, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Lloyds Securities Inc., Loop Capital Markets LLC, Mizuho Securities USA LLC, MUFG, Regions Securities LLC, SG Americas Securities, LLC, SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC
Co-managers:	Commonwealth Bank of Australia, Morgan Stanley & Co. LLC and Stifel, Nicolaus & Co., Inc.
Coupon:	3.875%
Spread:	Treasuries plus 125 bps
Trade date:	June 11
Ratings:	S&P: BBB
	Fitch: BBB
Distribution:	SEC registered
Price guidance:	Treasuries plus 137.5 bps area

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