California-headquartered Air Lease (ALC) has priced a new offering of six-year €600 million ($656 million) senior unsecured medium-term notes at 3.7%.

The sale of the notes is expected to close on 27 March 2024, subject to satisfaction of customary closing conditions.

The bonds will mature on 15 April 2030 and bear interest at a rate of 3.7% per annum, payable annually in arrears on 15 April of each year in Euros.

ALC says it intends to use the net proceeds for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness.

BBVA, Deutsche Bank, J.P. Morgan, NatWest Markets, and Societe Generale are acting as joint book-running managers for this new offering.