Markets

Air Lease Unveils $2 Bln Commercial Paper Program

January 21, 2025 — 05:26 pm EST

Written by RTTNews.com for RTTNews

(RTTNews) - Air Lease Corporation (AL) a California-based aircraft leasing company, announced on Tuesday the establishment of its commercial paper program.

Under this program, Air Lease can issue short-term, unsecured commercial paper notes under the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933. The program allows for borrowing, repayment, and re-borrowing, with a maximum outstanding principal amount of $2 billion at any time.

The Notes will be sold under standard terms in the U.S. commercial paper market and will rank equally with all other unsecured and unsubordinated company debt. The proceeds from the Notes will be used for general corporate purposes, including purchasing commercial aircraft and repaying existing debt.

Tuesday, AL's stock closed at $47.37, up 1.52% on the New York Stock Exchange.

RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
More articles by this source

Tags

Markets
Stocks Mentioned

Latest Articles
Data is currently not available