05:32 PM EST, 01/21/2025 (MT Newswires) -- Air Lease ( AL ) said Tuesday it has set up a $2 billion commercial paper note program.

Under the program's terms, the company can periodically issue short-term, unsecured commercial paper notes.

The notes will be offered in the US commercial paper market and will hold a rank equal to or higher than the company's other unsecured and unsubordinated debt.

The company plans to use the net proceeds from the notes for general corporate purposes, including the purchase of commercial aircraft and repayment of existing debt.