An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Air Lease (AL) increased its senior unsecured revolving credit facility to $7.8 billion, extending the final maturity date to 2028 and amending total revolving commitments from $7.4 billion across 52 financial institutions. The facility accrues interest at adjusted term SOFR plus a margin of 1.05% per year with a 0.20% facility fee. This move strengthens ALC's funding strategy and reflects the company's strong credit metrics.
Air Lease (AL) ha incrementato il suo impianto di credito rotativo non garantito portandolo a 7,8 miliardi di dollari, estendendo la data di scadenza finale al 2028 e modificando gli impegni totali di rotazione da 7,4 miliardi tra 52 istituti finanziari. L'impianto matura interessi al SOFR a termine aggiustato più un margine dell'1,05% annuo con una commissione dello 0,20%. Questa mossa rafforza la strategia di finanziamento di ALC e riflette i solidi parametri di credito della società.
Air Lease (AL) ha aumentado su línea de crédito revolvente senior no asegurada a $7.8 mil millones, extendiendo la fecha de vencimiento final hasta 2028 y modificando los compromisos revolventes totales desde $7.4 mil millones distribuidos entre 52 instituciones financieras. La facilidad acumula intereses al SOFR a término ajustado más un margen del 1.05% anual con una tasa de la facilidad del 0.20%. Este movimiento fortalece la estrategia de financiación de ALC y refleja los fuertes métricos de crédito de la compañía.
에어 리스 (AL)는 그것의 선순위 무담보 회전신용 시설을 78억 달러까지 증가시켰고, 최종 만기일을 2028년까지 연장하며, 52개 금융기관들을 통해 74억 달러에서 총 회전 약정을 수정했습니다. 이 시설은 조정된 기간 SOFR에 연 1.05%의 마진 더하기 이자와 0.20%의 시설 수수료가 부과됩니다. 이 조치는 ALC의 자금 공급 전략을 강화하고 회사의 강력한 신용 지표를 반영합니다.
Air Lease (AL) a augmenté sa facilité de crédit renouvelable senior non sécurisée à 7,8 milliards de dollars, prolongeant ainsi la date de maturité finale à 2028 et modifiant les engagements totaux de rotation de 7,4 milliards parmi 52 institutions financières. Le dispositif accumule des intérêts au SOFR à terme ajusté plus une marge de 1,05% par an avec des frais de facilité de 0,20%. Cette initiative renforce la stratégie de financement de ALC et reflète les solides mesures de crédit de l'entreprise.
Air Lease (AL) hat seine unbesicherte revolvierende Kreditlinie auf 7,8 Milliarden Dollar erhöht, das Endfälligkeitsdatum auf 2028 erweitert und die Gesamtsumme der revolvierenden Kredite von 7,4 Milliarden bei 52 Finanzinstitutionen geändert. Die Kreditlinie verrechnet Zinsen zum angepassten Term SOFR zuzüglich einer Marge von 1,05% pro Jahr mit einer Gebühr von 0,20%. Diese Maßnahme stärkt die Finanzierungsstrategie von ALC und spiegelt die starken Kreditkennzahlen des Unternehmens wider.
Positive
Air Lease (AL) extended its senior unsecured revolving credit facility to 2028, providing financial stability and flexibility for future growth.
The increase in the total revolving commitments to $7.8 billion signifies strong confidence from 52 financial institutions in ALC's creditworthiness and growth potential.
The amended terms of the credit facility with adjusted interest rates and facility fees reflect favorable financing conditions for Air Lease (AL).
Negative
None.
Insights
Expanding a credit facility can provide a company with increased financial flexibility and liquidity, especially in capital-intensive industries such as aircraft leasing where Air Lease Corporation operates. The upsize from $7.4 billion to $7.8 billion indicates an increment of $400 million, which may seem modest but still reflects the lenders' confidence in the company's financial health and ability to service debt.
The adjustment in the revolving commitments along with the extension of the maturity date by one year to 2028 provides Air Lease Corporation with a longer horizon to handle their financial obligations. This should, in theory, decrease short-term financial pressure and could be seen by investors as a positive signal regarding the company's risk management and strategy execution. The commitment from 52 financial institutions also speaks to the syndicate’s broad-based support for the company.
The interest rate being tied to adjusted term SOFR with a margin of 1.05% annually indicates the credit facility is priced competitively compared to industry standards. SOFR, or Secured Overnight Financing Rate, is a benchmark rate that's becoming the standard for pricing USD-denominated credit and derivatives, used as a replacement for LIBOR.
For investors, the credit rating adjustments clause is significant. Should the company's credit ratings change, the cost of capital could alter, impacting profit margins and cash flow. It remains important for investors to monitor the company's creditworthiness, as changes may affect the terms of this substantial line of credit and potentially the company's strategic financial decisions.
LOS ANGELES--(BUSINESS WIRE)--
Air Lease Corporation (NYSE: AL) amended and extended its senior unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent whereby the company extended the final maturity date of the facility from May 5, 2027 to May 5, 2028 and amended the total revolving commitments to approximately $7.8 billion from $7.4 billion across 52 financial institutions as of May 5, 2024. The senior unsecured revolving credit facility accrues interest at adjusted term SOFR plus a margin of 1.05% per year with a 0.20% facility fee, each subject to adjustments based on the company’s credit ratings.
“We are pleased to announce the extension of our senior unsecured revolving credit facility to 2028, and the upsize of the facility to $7.8 billion,” said Gregory B. Willis, Executive Vice President and Chief Financial Officer of Air Lease Corporation. “This revolving credit facility remains a key component of our funding strategy, and its continued expansion reflects the strength of ALC’s platform and credit metrics. We would like to offer our sincere appreciation to our financial partners for their continued support.”
Forward-Looking Statements
This press release contains 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)
Air Lease Corporation is a leading global 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 new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. The company routinely posts information that may be important to investors in the “Investors” section of its website at www.airleasecorp.com. Investors and potential investors are encouraged to consult Air Lease Corporation’s website regularly for important information. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.
