Air Lease Corporation’s $250 Million Preferred Stock Offering

Simpson Thacher represented the underwriters, led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC and J.P. Morgan Securities LLC, in connection with the public offering by Air Lease Corporation of 10,000,000 shares of its 6.15% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, representing $250 million in aggregate liquidation preference.

The Series A Preferred Stock is expected to trade on the New York Stock Exchange under the symbol “AL PRA.” The net proceeds of the offering will be used for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness.

Air Lease Corporation is an aircraft leasing company, principally engaged in purchasing commercial aircraft and leasing them to airlines around the world.

The Simpson Thacher team included Art Robinson, Dan Webb, Ryan Coombs, Jay Higdon and Jonathan Kachiu (Corporate); Katharine Moir (Tax); and Andrew Pagliughi (Blue Sky).

Involved fees earner: Ryan Coombs – Simpson Thacher & Bartlett; Jay Higdon – Simpson Thacher & Bartlett; Jonathan Kachiu – Simpson Thacher & Bartlett; Katharine Moir – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Daniel Webb – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: JP Morgan Securities; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Morgan Stanley; Wells Fargo Securities;

Author: Ambrogio Visconti