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, 2025 to May 5, 2026 and increased the total revolving commitments to approximately $7.0 billion from $6.8 billion, across 52 financial institutions as of May 5, 2022. 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 by one year to 2026 and upsize of the facility to $7.0 billion,” said Gregory B. Willis, Executive Vice President and Chief Financial Officer of Air Lease Corporation. “The success of this facility is reflective of ALC’s investment grade credit metrics and the strength of our platform, and we appreciate the continued support of our lender group. This credit facility remains a foundational component of ALC’s funding strategy, providing us with a highly cost efficient and flexible financing tool to support the continued expansion of our fleet.”