Air Lease Corporation Announces Pricing of Public Offering of $1.5 Billion of Senior Unsecured Medium-Term Notes

Air Lease Corporation (NYSE: AL) (the “Company”) announced the pricing on January 5, 2022 of its public offering of $750.0 million aggregate principal amount of 2.20% senior unsecured medium-term notes due January 15, 2027 (the “2027 Notes”) and $750.0 million aggregate principal amount of 2.875% senior unsecured medium-term notes due January 15, 2032 (the “2032 Notes” and, together with the 2027 Notes, the “Notes”). The sale of the Notes is expected to close on January 12, 2022, subject to satisfaction of customary closing conditions.

The 2027 Notes will mature on January 15, 2027 and will bear interest at a rate of 2.20% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2022. The 2032 Notes will mature on January 15, 2032 and will bear interest at a rate of 2.875% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2022.

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

BofA Securities, Inc., NatWest Markets Securities Inc., Regions Securities LLC, and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering of the 2027 Notes. BNP Paribas Securities Corp., BofA Securities, Inc., Deutsche Bank Securities Inc., and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering of the 2032 Notes.

The Notes are being offered pursuant to the Company’s effective shelf registration statement, previously filed with the Securities and Exchange Commission (the “SEC”) on May 7, 2021. The offering of the Notes is being made only by means of the prospectus supplement dated May 7, 2021, supplementing the base prospectus dated May 7, 2021, as may be further supplemented by any free writing prospectus and/or pricing supplements the Company may file with the SEC. Before you invest, you should read the base prospectus, prospectus supplement and any other documents the Company may file with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies may be obtained from: (i) BNP Paribas Securities Corp. (only with respect to the 2032 Notes) toll-free at (800) 854-5674, (ii) BofA Securities, Inc. toll-free at (800) 294-1322, (iii) Deutsche Bank Securities Inc. (only with respect to the 2032 Notes) toll-free at (800) 503-4611, (iv) NatWest Markets Securities Inc. (only with respect to the 2027 Notes) collect at (203) 897-6166, (v) Regions Securities LLC (only with respect to the 2027 Notes) toll-free at (800) 850-7758, or (vi) Wells Fargo Securities, LLC toll-free at (800) 645-3751.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the expected closing of the offering and the intended use of proceeds. Such statements are based on current expectations and projections about the Company’s future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including but not limited to, unexpected delays in the closing process for the Notes, unanticipated cash needs, and those risks detailed in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020.

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