09:14 AM EDT, 06/18/2024 (MT Newswires) -- Air Lease ( AL ) said Tuesday it has priced its public offering of $1.2 billion of senior unsecured medium-term notes.

The company said $600 million of the notes will mature June 25, 2026, and have an annual interest rate of 5.3% that will be paid semi-annually in arrears on June 25 and Dec. 25 of each year starting Dec. 25.

Another $600 million of the notes will mature July 15, 2031, and have an annual interest rate of 5.2% that will be paid semi-annually in arrears on Jan. 15 and July 15 of each year beginning Jan. 15, the company said.

Air Lease ( AL ) said it plans to use the net proceeds for general corporate purposes, which may include the purchase of commercial aircraft and the repayment of debt.

The offering is expected to close June 25, the company said.