Air Lease Corporation Announces Amendment and Extension of $2.66 Billion Senior Unsecured Revolving Credit Facility

Published on : Wednesday, June 3, 2015

Air Lease CorporationToday Air Lease Corporation (the “Company”) amended and extended its four-year unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent and the lenders named therein (as amended, the “Syndicated Unsecured Revolving Credit Facility”) whereby the Company extended the maturity date from May 5, 2018 to May 5, 2019 and increased the revolving commitments thereunder by an additional $350 million. The Syndicated Unsecured Revolving Credit Facility remains priced at LIBOR plus 125 basis points with a 25 basis point facility fee, subject to reductions based on improvements in the Company’s credit ratings.

 

 

Prior to the transaction, lenders held revolving commitments totaling $2.31 billion that matured on May 5, 2018. As a result of the transaction, lenders hold revolving commitments totaling $2.49 billion that mature onMay 5, 2019, and lenders hold revolving commitments totaling $175 million that mature on May 5, 2018.

 

 

“During the course of 2015, we have grown our revolving credit facility from $2.1 billion to over $2.6 billion. This represents an increase of 26% and now includes 31 financial institutions. We are grateful for the continuing support from our banking group as our balance sheet strengthens with increased access to flexible and attractively priced capital,” said Gregory B. Willis, Senior Vice President and Chief Financial Officer of Air Lease Corporation.

 

 

The description of the transaction is qualified in its entirety by reference to the complete text of the First Amendment and the Extension Agreement (collectively, the “Transaction Documents”), which are filed on Form 8K with the Securities and Exchange Commission.

 

 

 

Source:- Air Lease Corporation

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