Debt Overview
Air Lease’s financing objective is to ensure the availability of capital resources on an ongoing basis to meet the funding requirements of our business, most importantly the acquisition of new, modern aircraft from our order book. Achieving and maintaining strong investment grade credit ratings has been a priority of Air Lease management since inception of the company in 2010, and our investment grade ratings continue to play a key role in our ability to access diverse sources of capital.
Primary Funding Sources
$7.4 billion Committed Revolving Credit Facility – final maturity May 5, 2026
- Syndicate includes over 53 banking institutions
- Available for general corporate purposes
Issuance of Senior Unsecured Notes
- Over $20 billion of senior notes issued since 2010
Additional Funding Sources
- Bank term loan facilities
- Bilateral credit facilities
Debt Financing
The Company’s consolidated debt (dollars in thousands) as of September 30, 2022 is summarized below:
| Unsecured | |
|---|---|
| Senior Notes | 17,064,000 |
| Term Financings | 187,000 |
| Revolving Credit Facility | 1,570,000 |
| Total Unsecured Debt Financing | 18,821,000 |
| Secured | |
|---|---|
| Term Financings | 117,000 |
| Export Credit Financing | 13,000 |
| Total Secured Debt Financing | 130,000 |
| Total | |
|---|---|
| Total Debt Financing | 18,951,000 |
| Less: Debt discounts and issuance costs | (182,000) |
| Debt Financing, Net of Discounts and Issuance Costs | |
Senior Unsecured Note Issuances Currently Outstanding
| Issued Amount ($MM) | Coupon | Issue Date | Maturity |
|---|---|---|---|
| $500 | 3.875% | 06/18/2018 | 07/03/2023 |
| $750 | 3.000% | 08/15/2016 | 09/15/2023 |
| $700 | 4.250% | 01/23/2019 | 02/01/2024 |
| $750 | 0.700% | 01/26/2021 | 02/15/2024 |
| $600 | 0.800% | 08/18/2021 | 08/18/2024 |
| $500 | 4.250% | 09/16/2014 | 09/15/2024 |
| CAD $400 | 2.625% | 12/05/2019 | 12/05/2024 |
| $750 | 2.300% | 01/14/2020 | 02/01/2025 |
| $700 | 3.250% | 01/16/2018 | 03/01/2025 |
| $850 | 3.375% | 06/24/2020 | 07/01/2025 |
| $1,450 | 2.875% | 08/17/2020 | 01/15/2026 |
| $750 | 3.750% | 05/23/2019 | 06/01/2026 |
| $1,200 | 1.875% | 05/24/2021 | 08/15/2026 |
| $750 | 2.200% | 01/12/2022 | 01/15/2027 |
| $500 | 3.625% | 03/08/2017 | 04/01/2027 |
| $500 | 3.625% | 11/20/2017 | 12/01/2027 |
| $700 | 5.850% | 12/05/2022 | 12/15/2027 |
| $700 | 5.300% | 01/13/2023 | 02/01/2028 |
| Sukuk $600 | 5.850% | 03/15/2023 | 04/01/2028 |
| $500 | 2.100% | 08/18/2021 | 09/01/2028 |
| $500 | 4.625% | 09/17/2018 | 10/01/2028 |
| $500 | 3.250% | 09/16/2019 | 10/01/2029 |
| $650 | 3.000% | 01/14/2020 | 02/01/2030 |
| $750 | 3.125% | 11/24/2020 | 12/01/2030 |
| $750 | 2.875% | 01/12/2022 | 01/15/2032 |
Sukuk $600MM LSE Documentation:
Preferred Equity Currently Outstanding
| Security | Issued Amount ($MM) | Dividend | Issue Date | Maturity |
|---|---|---|---|---|
| Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A | $250 | 6.15% | 2/26/2019 | Perpetual (callable on or after 3/15/2024) |
| Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B | $300 | 4.65% | 02/23/2021 | Perpetual (callable on or after 6/15/26) |
| Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C | $300 | 4.125% | 10/13/2021 | Perpetual (callable on or after 12/15/26) |
Other Contacts
Investor Relations
Jason Arnold
Vice President, Investor Relations
Shareowner Account Matters
American Stock Transfer is Air Lease Corporation's transfer agent and administers all matters related to stock that is directly registered with Air Lease Corporation.
Media Relations
Laura Woeste
Senior Manager, Media and Investor Relations
Ashley Arnold
Senior Manager, Media and Investor Relations