Loading
17-Nov-2011 9:47 AM

ALC prices USD200m note offering

Air Lease Corporation (ALC) announced (16-Nov-2011) the pricing of its offering of USD200 million of 3.875% convertible senior notes due 2018. The notes are being sold only to qualified institutional buyers. The initial sale is expected to close on 21-Nov-2011. The notes will be senior unsecured obligations and will bear interest at a rate of 3.875% p/a, payable semi-annually in arrears, commencing on 01-Jun-2012. The notes are convertible at the option of the holder into shares of the company’s Class A common stock. The conversion rate will initially be 33.0836 shares of the company’s Class A common stock per USD1000 principal amount. ALC intends to use the proceeds of the offering to fund the acquisition of commercial aircraft and for general corporate purposes. [more - original PR]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More