New Issue: Air Lease sells upsized $700 million 3.375% notes due 2019 at 195 bps spread

By Aleesia Forni

Virginia Beach, Nov. 12 - Air Lease Corp. sold an upsized $700 million of 3.375% five-year senior notes (/BBB-/) on Tuesday with a spread of Treasuries plus 195 basis points, according to an informed source.

Pricing was at 99.858 to yield 3.406%.

The notes were talked with a yield in the Treasuries plus 200 bps area.

The joint bookrunners were BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Barclays, BMO Capital Markets Corp., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC and RBS Securities Inc.

Proceeds will be used for general corporate purposes.

Air Lease is a Los Angeles-based aircraft leasing company.

Issuer:	Air Lease Corp.
Issue:	Senior notes
Amount:	$700 million, upsized from $500 million
Maturity:	Jan. 15, 2019
Joint bookrunners:	BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Barclays, BMO Capital Markets Corp., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC, RBS Securities Inc.
Coupon:	3.375%
Price:	99.858
Yield:	3.406%
Spread:	Treasuries plus 195 bps
Trade date:	Nov. 12
Settlement date:	Nov. 19
Rating:	Standard & Poor's: BBB-
Price talk:	Treasuries plus 200 bps area
Distribution:	SEC registered

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