Air Lease Corporation Announces Proposed Offering of $300 Million of Convertible Senior Notes Due 2018
November 14 2011 - 4:05PM
Business Wire
Air Lease Corporation (NYSE: AL) (the “Company”) today announced
that it intends to offer $300 million aggregate principal amount of
convertible senior notes due 2018 (the “Notes”) in an offering
exempt from registration under the Securities Act of 1933, as
amended (the “Securities Act”). In connection with this offering,
the Company expects to grant the initial purchasers of the Notes an
option to purchase up to an additional $45 million aggregate
principal amount of the Notes. The Notes will be offered only to
qualified institutional buyers in reliance upon Rule 144A under the
Securities Act.
The Notes will pay interest semi-annually and will be
convertible at the option of the holder into shares of the
Company’s Class A common stock. The Notes will mature on December
1, 2018, unless earlier repurchased or converted. The Company will
not have the right to redeem the Notes prior to maturity. The
interest rate, conversion rate and other terms of the Notes will be
determined at the time of the pricing of the offering.
The Company intends to use the proceeds of the offering to fund
the acquisition of commercial aircraft and for general corporate
purposes.
The Notes, and the shares of the Company’s Class A common stock
issuable upon conversion of the Notes, have not been and will not
be registered under the Securities Act or applicable state
securities laws and, unless so registered, may not be offered or
sold in the United States, except pursuant to an applicable
exemption from the registration requirements of the Securities Act
and applicable state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes, or the shares of the Company’s Class A common stock issuable
upon conversion of the Notes, in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
Forward-Looking Statements
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)
Launched in 2010, ALC is an aircraft leasing company based in
Los Angeles, California, that has airline customers throughout
the world. ALC and its team of dedicated and experienced
professionals are principally engaged in purchasing commercial
aircraft and leasing them to its airline partners worldwide
through customized aircraft leasing and financing solutions. For
more information, visit ALC's website at
www.airleasecorp.com.
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