Air Lease files for up to $805 million IPO

BANGALORE (Reuters) – Air Lease Corp filed with U.S. regulators to raise up to $805 million in an initial public offering of common stock.

The Los Angeles-based company said it is selling 25 million class A common stock at $25-$28 per share. Underwriters have the option to buy up to an additional 3.8 million shares on the same terms and conditions to cover over-allotments.

The aircraft leasing company, in which Wilbur Ross’s WL Ross & Co, Ares Management, and Commonwealth Bank of Australia hold stakes, had in January said it planned to raise $100 million through an IPO to fund acquisition of commercial aircraft and for general corporate purposes.

J.P. Morgan Securities, Credit Suisse Securities, Barclays Capital Inc, FBR Capital Markets & Co, RBC Capital Markets and Wells Fargo Securities will act as joint book-running managers for the offering, the company said in a statement.

The company, whose shares have been approved for listing on the New York Stock Exchange under the symbol “AL,” owned 40 aircraft as of December 31. It has agreed to buy 144 new aircraft through 2017 and four used aircraft in 2011.

(Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Sriraj Kalluvila)

Air Lease files for up to $805 million IPO