Air Lease Corporation Announces Pricing of Offering of C$500 Million of Senior Unsecured Medium-Term Notes

Air Lease Corporation (NYSE: AL) (the “Company”) announced the pricing on November 20, 2023 of its offering of C$500 million aggregate principal amount of 5.400% senior unsecured medium-term notes due June 1, 2028 (the “Notes”). The sale of the Notes is expected to close on November 29, 2023, subject to satisfaction of customary closing conditions.

The Notes will mature on June 1, 2028 and will bear interest at a rate of 5.400% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, commencing on June 1, 2024. Owners of the Notes will receive payments relating to their Notes in Canadian dollars.

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.

BMO Capital Markets, BofA Securities, RBC Capital Markets, Scotiabank and TD Securities are acting as joint book-running managers for the offering of the Notes. CIBC Capital Markets is acting as co-manager.

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, and a pricing supplement, dated November 20, 2023, supplementing 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 additional pricing supplements the Company may file with the SEC, and in Canada on a private placement basis pursuant to a Canadian offering memorandum to accredited investors who are also permitted clients within the meaning of Canadian securities laws. For more complete information about the Company and this offering before you invest, you should read the related base prospectus, related prospectus supplement, related pricing supplement and the documents incorporated by reference in each (which may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov), or if you are a Canadian investor, you should read the Canadian offering memorandum. Copies of the related base prospectus, related prospectus supplement and related pricing supplement may be obtained by contacting: (i) BMO Nesbitt Burns Inc. toll free at (866) 864-7760, (ii) Merrill Lynch Canada Inc. toll free at (800) 294-1322, (iii) RBC Dominion Securities Inc. toll free at (866) 375-6829, (iv) Scotia Capital Inc. toll free at (800) 472-6842 or (v) TD Securities Inc. toll free at (800) 263-5292, or, if you are in Canada and request it, the Canadian offering memorandum which incorporates the related base prospectus, the related prospectus supplement and the related pricing supplement by contacting: (i) BMO Nesbitt Burns Inc. at (416) 359-6359, (ii) Merrill Lynch Canada Inc. at (800) 294-1322, (iii) RBC Dominion Securities Inc. at (416) 842-6311, (iv) Scotia Capital Inc. at (416) 863-7438, or (v) TD Securities Inc. at (416) 942-5676.

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. The distribution of the Notes in Canada is being made on a private placement basis only and is exempt from the requirement that we prepare and file a prospectus with the relevant Canadian securities regulatory authorities. Accordingly, any resale of the Notes must be made in accordance with applicable Canadian securities laws which may require resales to be made in accordance with prospectus and dealer registration requirements or exemptions from the prospectus and dealer registration requirements of applicable Canadian securities laws.

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, 2022 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023.

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