International Lease Finance plans $550 million crossover sale of three-year floaters for Tuesday

By Andrea Heisinger

New York, May 21 - International Lease Finance Corp. is expected to price $550 million of three-year floating-rate notes in Tuesday's session, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

The notes (Ba3/BBB-/BB) are non-callable. There is a do-not-grow provision on the size of the sale.

Active bookrunners are Goldman Sachs & Co., Deutsche Bank Securities Inc. and UBS Securities LLC.

Passive bookrunners are Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC.

Proceeds will be used for general corporate purposes, including repayment of existing debt and the purchase of aircraft.

International Lease Finance last tapped the U.S. bond market in a $1.25 billion offering in two tranches on March 6.

The aircraft lessor is based in Los Angeles.

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