Air Lease Prices Series D Preferred Stock Offering

Air Lease ( (AL) ) has shared an announcement.

Air Lease Corporation has announced the pricing of a $300 million offering of Series D Preferred Stock, each share at a $1,000 liquidation preference, set to close on September 24, 2024. The offering will finance the redemption of Series A Preferred Stock and support general corporate needs, such as aircraft purchases and debt repayment. The dividends for the newly offered stock are set at a 6% fixed rate until December 2029, after which they will reset at a rate tied to the five-year U.S. Treasury Rate plus 2.56%, with a minimum of the initial 6%.

Find detailed analytics on AL stock on TipRanks’ Stock Analysis page.