Air Lease Corporation Announces Pricing of Offering of €600 Million of Senior Unsecured Medium-Term Notes
March 21 2024 - 12:19AM
Business Wire
Air Lease Corporation (NYSE: AL) (the “Company”) announced the
pricing on March 20, 2024 of its offering of €600 million aggregate
principal amount of 3.70% senior unsecured medium-term notes due
April 15, 2030 (the “Notes”). The sale of the Notes is expected to
close on March 27, 2024, subject to satisfaction of customary
closing conditions.
The Notes will mature on April 15, 2030 and will bear interest
at a rate of 3.70% per annum, payable annually in arrears on April
15 of each year, commencing on April 15, 2024. Owners of the Notes
will receive payments relating to the Notes in Euros.
The Company intends to use the net proceeds of the offering for
general corporate purposes, which may include, among other things,
the purchase of commercial aircraft and the repayment of existing
indebtedness.
BBVA, Deutsche Bank, J.P. Morgan, NatWest Markets, and Societe
Generale are acting as joint book-running managers for the offering
of the Notes.
The Notes are being offered pursuant to the Company’s effective
shelf registration statement, previously filed with the Securities
and Exchange Commission (the “SEC”) on May 7, 2021, and a pricing
supplement, dated March 20, 2024, supplementing the prospectus
supplement, dated May 7, 2021, supplementing the base prospectus,
dated May 7, 2021, as may be further supplemented by any free
writing prospectus and/or additional pricing supplements the
Company may file with the SEC. For more complete information about
the Company and this offering before you invest, you should read
the related base prospectus, related prospectus supplement, related
pricing supplement and the documents incorporated by reference in
each (which may be obtained for free by visiting EDGAR on the SEC’s
website at www.sec.gov). Copies of the related base prospectus,
related prospectus supplement and related pricing supplement may be
obtained by contacting: (i) Banco Bilbao Vizcaya Argentaria, S.A.
at +34 91 537 43 05, (ii) Deutsche Bank AG, London Branch at
1-800-503-4611, (iii) J.P. Morgan Securities plc (for non-U.S.
investors) at +44-20 7134-2468 or J.P. Morgan Securities LLC (for
U.S. investors) at (212) 834-4533, (iv) NatWest Markets Plc at +44
20 7085 7683 or (v) Société Générale at 1-855-881-2108.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there be any
sale of the Notes in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the expected closing of the
offering and the intended use of proceeds. Such statements are
based on current expectations and projections about the Company’s
future results, prospects and opportunities and are not guarantees
of future performance. Such statements will not be updated unless
required by law. Actual results and performance may differ
materially from those expressed or forecasted in forward-looking
statements due to a number of factors, including but not limited
to, unexpected delays in the closing process for the Notes,
unanticipated cash needs, and those risks detailed in the Company’s
filings with the SEC, including the Company’s Annual Report on Form
10-K for the fiscal year ended December 31, 2023.
The Notes are not intended to be offered, sold or otherwise made
available to, and should not be offered, sold or otherwise made
available to, any retail investor in the European Economic Area
(“EEA”) or in the United Kingdom. For these purposes, a “retail
investor” in the EEA means a person who is one (or more) of: (i) a
“retail client” as defined in point (11) of Article 4(1) of
Directive 2014/65/EU (as amended, “MiFID II”) or (ii) a customer
within the meaning of Directive (EU) 2016/97 (as amended, the
“Insurance Distribution Directive”), where that customer would not
qualify as a professional client as defined in point (10) of
Article 4(1) of MiFID II. A “retail investor” in the UK means a
person who is one (or more) of: (i) a “retail client” as defined in
point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 (“EUWA”) or (ii) a customer within the
meaning of the provisions of the Financial Services and Markets Act
2000 (as amended, “FSMA”) and any rules or regulations made under
the FSMA to implement the Insurance Distribution Directive, where
that customer would not qualify as a professional client as defined
in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it
forms part of UK domestic law by virtue of the EUWA.
This announcement does not constitute and shall not, in any
circumstances, constitute a public offering nor an invitation to
the public in connection with any offer within the meaning of
Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”)
and the Prospectus Regulation as it forms part of UK domestic law
by virtue of the EUWA (the “UK Prospectus Regulation”). The offer
and sale of the Notes will be made pursuant to an exemption under
the Prospectus Regulation and the UK Prospectus Regulation from the
requirement to produce a prospectus for offers of securities.
The manufacturer target market (MIFID II product governance and
UK MiFIR product governance) is eligible counterparties and
professional clients only (all distribution channels). No PRIIPs or
UK PRIIPs key information document (KID) has been prepared as the
Notes are not available to retail clients in the EEA or in the
United Kingdom.
This communication does not constitute an offer of securities to
the public in the United Kingdom and is being distributed only to,
and is directed only at persons who are “qualified investors” (as
defined in the UK Prospectus Regulation) who are (i) persons having
professional experience in matters relating to investments falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the “Order”), (ii)
persons falling within Article 49(2)(a) to (d) (“high net worth
companies, unincorporated associations etc.”) of the Order, or
(iii) persons to whom it would otherwise be lawful to distribute
it, all such persons together being referred to as “Relevant
Persons”. In the UK, any investment or investment activity to which
this communication relates is available only to Relevant Persons
and will be engaged in only with Relevant Persons. Any person who
is not a Relevant Person should not act or rely on this
communication or any of its contents.
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version on businesswire.com: https://www.businesswire.com/news/home/20240320130111/en/
Investors:
Jason Arnold Vice President, Investor Relations
Phone: +1 310.553.0555 Email: investors@airleasecorp.com
Media:
Laura Woeste Senior Manager, Media & Investor Relations
Ashley Arnold Senior Manager, Media & Investor Relations
Phone: +1 310.553.0555 Email: press@airleasecorp.com
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