AIR LEASE CORP: debt financing — Air Lease extends $7.2B senior unsecured revolver maturity to May 2027

AIR LEASE CORP

Amended commitments total ~$7.2B across 49 banks as of May 5, 2023; no new borrowings at closing.
Interest rate set at Adjusted Term SOFR + 1.05% margin with 0.20% facility fee, subject to credit rating adjustments.
Maturity extended one year; $6.8B of commitments mature May 2027, $320M May 2026, $32.5M May 2025, $375M May 2023.
CFO Gregory Willis cited the extension as reflecting ALC's strong investment-grade credit metrics and cost-efficient funding strategy.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AIR LEASE CORP amended revolving credit of approximately $7.2 billion with JPMorgan Chase Bank, N.A., as administrative agent at Adjusted Term SOFR Rate plus a margin of 1.05% per year maturing May 5, 2027.

Instrument: revolving credit
Principal: approximately $7.2 billion
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: Adjusted Term SOFR Rate plus a margin of 1.05% per year
Maturity: May 5, 2027
Event: amendment

Exact text from the filing

(i) extended the final maturity date from May 5, 2026 to May 5, 2027, (ii) amended the total revolving commitments thereunder to approximately $7.2 billion

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AIR LEASE CORP amended Eighth Amendment and Extension Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders named therein (effective 2023-04-25).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders named therein
Effective: 2023-04-25

Exact text from the filing

On April 25, 2023, Air Lease Corporation (the “Company”) entered into the Eighth Amendment and Extension Agreement (the “Eighth Amendment) to the Second Amended and Restated Credit Agreement which amended and extended its unsecured revolving credit facility

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Source: SEC EDGAR

accession 0001193125-23-118703

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