Air Lease prices $250M preferred share offering
Air Lease Corp. priced its public offering of 10 million shares of its 6.150% series A fixed-to-floating noncumulative perpetual preferred stock at $25 per share.
The offering is expected to close on March 5.
Net proceeds will be used for general corporate purposes, including the purchase of commercial aircraft and the repayment of existing debt.
The aircraft leasing company plans to apply to list the shares on the New York Stock Exchange under the symbol AL PRA.