Air Lease Corp. to price $400 million senior bullet notes on Tuesday

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Jan. 29 - Air Lease Corp. is set to hit Tuesday's market with $400 million of senior notes due March 2020, according to a market source.

An investor call took place at 11 a.m. ET.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are lead bookrunning managers.

BMO Capital Markets Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets LLC, RBS Securities Inc. and Wells Fargo Securities LLC are bookrunning managers.

The Securities and Exchange Commission-registered notes will be non-callable apart from a make-whole call at Treasuries plus 50 basis points.

The notes carry a 101% poison put.

The issue is unrated and will feature a coupon step-up if the notes are not rated in the next 12 months.

Proceeds will be used to fund the acquisition of commercial aircraft and for general corporate purposes.

Air Lease is a commercial aircraft leasing company headquartered in Los Angeles.

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