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Air Lease To Raise $805M In IPO
Air Lease is planning to raise about $805 million in an initial public offering.
Air Lease is planning to raise about $805 million in an initial public offering (IPO), The Wall Street Journal reports. The Los Angeles-based aircraft leasing company, in which WL Ross & Company, Ares Management and Commonwealth Bank ofAustralia hold stakes, will sell at least 25 million of shares at $25 to $28 per share.
Air Lease will also offer an option to its underwriters to buy an additional 3.8 million shares on the same terms and conditions to cover over-allotments. The joint book-running managers for the offering are JP Morgan, Credit Suisse, Barclays Capital, FBR Capital Markets, RBC Capital Markets and Wells Fargo, adds Reuters.
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