Air Lease Corporation Amends and Extends $1 Billion Bank Warehouse Facility
LOS ANGELES -- June 24, 2013
On June 21, 2013, Air Lease Corporation (NYSE: AL) executed an amendment to
its Bank Warehouse Facility. This facility, as amended, provides ALC with
financing of up to $1 billion. ALC is able to draw on the amended facility
during an availability period that was extended to June 2015 with a subsequent
4 year term out option. The interest rate on the facility was reduced to LIBOR
plus 2.25% on drawn balances (from LIBOR plus 2.50%) and reduced to 0.50% on
undrawn balances (from 0.75%).
“We are very pleased to close the amendment and extension to our bank
warehouse facility. This facility furthers ALC’s strategic goals of reducing
our usage of secured debt, reducing interest expense, and extending the
weighted average life of our debt,” said Gregory B. Willis, Senior Vice
President and Chief Financial Officer of Air Lease Corporation.
This press release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements are
based on current expectations and projections about our future results,
prospects and opportunities and are not guarantees of future performance. Such
statements will not be updated unless required by law. Actual results and
performance may differ materially from those expressed or forecasted in
forward-looking statements due to a number of factors, including those
discussed in our filings with the Securities and Exchange Commission.
About Air Lease Corporation (NYSE: AL)
ALC is an aircraft leasing company based in Los Angeles, Californiathat has
airline customers throughout the world. ALC and its team of dedicated and
experienced professionalsare principally engaged in purchasing commercial
aircraft and leasing them toits airline partners worldwide through customized
aircraft leasing and financing solutions. For more information, visitALC's
website at www.airleasecorp.com.
Air Lease Corporation
Assistant Vice President
Strategic Planning and Investor Relations
Laura St. John
Media and Investor Relations Coordinator
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