LOS ANGELES, May 31, 2016. On May 27, 2016, Air Lease Corporation (the “Company”) amended and extended its 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, 2019 to May 5, 2020 and increased total revolving commitments to $3.13 billion from $2.78 billion, across 39 financial institutions. 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. Under the Syndicated Unsecured Revolving Credit Facility, lenders hold revolving commitments totaling $2.78 billion that mature on May 5, 2020, with the remaining revolving commitments maturing prior to May 5, 2020.
“The unsecured bank revolver is a key advantage in the Company’s capital structure that provides us with both flexibility and speed when deploying capital. We believe our financial results over the past six years have earned the confidence of our banking group and led to the upsizing and extension of the facility,” said Gregory B. Willis, Senior Vice President and Chief Financial Officer of the Company.
