04:12 AM EDT, 09/18/2024 (MT Newswires) -- Air Lease ( AL ) said late Tuesday it priced a public offering of 300,000 shares of its 6% fixed-rate reset non-cumulative perpetual preferred stock, series D, with a liquidation preference of $1,000 per share.

Net proceeds will be used for the redemption of the company's outstanding 6.15% fixed-to-floating rate non-cumulative perpetual preferred stock, series A, and for general corporate purposes, the company said.

Closing of the offering is expected to occur on Sept. 24, subject to customary closing conditions.