California-based Air Lease (ALC) has priced an offering of C$400 million ($296 million) of additional 5.4% senior unsecured medium-term notes due 1 June 2028. 

The sale of the notes is expected to close on 28 February.

BofA Securities is acting as bookrunning manager for the offering.

ALC 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.

These latest Maple bonds will have the same terms as, and constitute a single tranche with, the C$500 million 5.4% medium-term notes, Series A, due 1 June that ALC originally issued in November 2023.

Upon issuance of the additional notes, the outstanding aggregate principal amount of 5.4% Medium-Term Notes, Series A, due 1 June 2028 will be C$900 million.