Air Lease Corporation Increases Senior Unsecured Revolving Credit Facility to $6.4 Billion
Air Lease Corporation (ALC) has amended and extended their existing senior unsecured revolving credit facility with JPMorgan Chase Bank, N.A. as administrative agent. The facility has been increased to $6.4 billion with a maturity date of May 5, 2025.
On Thursday (April 29, 2021), Air Lease Corporation (ALC) announced that they have amended and extended their senior unsecured revolving credit facility, with JPMorgan Chase Bank, N.A. as administrative agent. The facility has been increased by $200 million to $6.4 billion across 50 financial institutions and maturity has been extended from May 5, 2023 to May 5, 2025. The facility remains priced at LIBOR plus 105 basis points, with a 20 basis point facility fee, and is subject to adjustments based on the company’s credit rating.
In Thursday’s announcement, Air Lease Corporation’s Executive Vice President and Chief Financial Officer, Gregory B, Willis, said,
“We are pleased to announce the extension of our senior unsecured revolving credit facility by two years to 2025 and upsize of the facility to $6.4 billion, a more than 35% increase since the beginning of 2019. The success of this facility is reflective of ALC’s investment grade credit metrics and the strength of our platform, and we appreciate the ongoing support of our lender group. This facility remains a foundational aspect of ALC’s funding strategy providing us with a highly cost efficient and flexible financing tool to drive value for our shareholders.”
Based in Los Angeles, California, Air Lease Corporation (NYSE: AL) is a leading global aircraft leasing company. The ALC team is principally involved in the purchase of commercial aircraft and leasing them to airlines worldwide with customized leasing and financing solutions.
Source: Air Lease Corporation