Air Lease Corp., a global aircraft leasing company based in Century City, has announced the pricing of $500 million in unsecured senior notes.
The company announced on June 11 a public offering of $500 million in notes due in 2023, bearing interest at 3.875 percent.
It intends to use proceeds the note sale for “general corporate purposes,” according to a news release, including the purchase of new commercial aircraft and the repayment of debt.
Book-running managers for the offering include Citigroup Global Markets Inc; Goldman Sachs & Co.; Merrill Lynch; Pierce, Fenner & Smith Inc. and RBC Capital Markets.
Air Lease, which showed $756.2 million in profit in 2017, finished the year with 244 of its own aircraft and another 50 under management, with the fleet’s book value up 10 percent to $13.3 billion.
It was founded in 2010 by aircraft leasing pioneer Steven Udvar-Hazy, of Beverly Hills, ranked by the Business Journal in May as No. 8 on a list of wealthiest Angelenos, with a net worth of $5.6 billion.
Health business reporter Dana Bartholomew can be reached at firstname.lastname@example.org. Follow him on Twitter @_DanaBart.
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