AIR LEASE CORPORATION (NYSE:AL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On May2, 2018, Air Lease Corporation (the “Company”) amended and extended its unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent and the lenders named therein (as amended, the “Revolving Credit Facility”). The Company, among other things, increased the total revolving commitments under the Revolving Credit Facility to approximately $4.5billion from approximately $3.9billion, across 50 financial institutions, and extended the final maturity date from May5, 2021 to May5, 2022.The Revolving Credit Facility remains priced at LIBOR plus 1.05% with a 0.20% facility fee, each subject to reductions based on changes to the Company’s credit ratings.Revolving commitments totaling approximately $4.0billion mature on May5, 2022, with the remaining $0.5billion maturing prior to such date. The foregoing description of the transaction is qualified in its entirety by reference to the complete text of the Fourth Amendment and Extension (as defined in Item 1.01 below), which is filed as Exhibit 10.1 and incorporated herein by reference.
| Item 1.01. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
| Item 1.01. | Regulation FD Disclosure. |
OnMay 3, 2018, the Company issued a press release announcing entry into the Fourth Amendment and Extension.A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item 1.01 and the related information in Exhibit 99.1 attached hereto shall not be deemed to be “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing
| Item 1.01. | Financial Statements and Exhibits. |
| Exhibit10.1 | Fourth Amendment and Extension Agreement, dated as of May2, 2018, to the Second Amended and Restated Credit Agreement, dated as of May 5, 2014, among Air Lease Corporation, as Borrower, the several lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Fourth Amendment and Extension”). |
| Exhibit99.1 | Air Lease CorporationPress ReleasedatedMay 3, 2018. |
AIR LEASE CORP ExhibitEX-10.1 2 d581058dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 Execution Version FOURTH AMENDMENT AND EXTENSION AGREEMENT FOURTH AMENDMENT AND EXTENSION AGREEMENT,…To view the full exhibit click here
About AIR LEASE CORPORATION (NYSE:AL)
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus S.A.S. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines. The Company also provides fleet management services to investors and owners of aircraft portfolios for a management fee. The Company provides aircraft to airline customers in various markets, such as Asia, the Pacific Rim, Latin America, the Middle East, Europe, Africa and North America. The Company owns approximately 240 aircraft, including over 180 single-aisle narrowbody jet aircraft, approximately 40 twin-aisle widebody jet aircraft and over 20 turboprop aircraft.
