Air Lease prices $300 million preferred stock offering

Air Lease has priced a $300 million preferred stock offering on September 17, 2024. The public offering of 300,000 shares with a 6.00% fixed-rate reset non-cumulative perpetual preferred stock, Series D, has a liquidation preference of $1,000 per share. The sale of the shares is expected to close on September 24, 2024. Dividends will accrue on a non-cumulative basis at an annual rate of 6.00% from the sale close until December 15, 2029. After this, the rate will adjust to the five-year US treasury rate plus 2.56%, provided that the dividend rate per annum during any reset period will not