Aircraft lessors crowd to market after monster rally

Aircraft aviation jet engine plane from Adobe 21Jan21 575x375
By David Rothnie
21 Jan 2021

Companies in the same sector often copy each other, but this year's string of bond issues by aircraft lessors has been exceptional, and is prompted by the sector's credit rehabilitation. Air Lease Corp took the recovery past a new milestone this week.

Air Lease secured the sector's lowest ever coupon with a $750m three year bond issue on Tuesday, as spreads for lessors continued their dramatic turnaround, in which they have recovered close to pre-Covid levels.

Air Lease issued its note the day before President Joe Biden’s inauguration. Lead bookrunners Citigroup, ...

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