Paul Hastings Advises Initial Purchasers in $4 Billion Notes Offering by Takeoff Merger Sub

Paul Hastings LLP advised SMBC Nikko Securities America, Citigroup Global Markets, Goldman Sachs & Co. and the other initial purchasers in connection with the Rule 144A/Regulation S senior notes offering by Takeoff Merger Sub Inc. The offering includes an aggregate of $4 billion of senior notes, consisting of $800 million aggregate principal amount of 4.400% senior notes due 2028, $1.2 billion aggregate principal amount of 4.500% senior notes due 2029, $1.5 billion aggregate principal amount of 4.850% senior notes due 2031 and $500 million aggregate principal amount of 5.500% senior notes due 2036.

The offering is in connection with the pending acquisition of Air Lease Corporation (NYSE: AL), a leading global aircraft leasing company, by Sumitomo Corporation, SMBC Aviation Capital Limited and affiliates of Apollo Capital Management and Brookfield Asset Management. In connection with the acquisition, Takeoff Merger Sub Inc. will merge with and into Air Lease Corporation and be renamed Sumisho Air Lease Corporation.

Partner Jeff Ramsay led the Paul Hastings team, which included partners Morgan Bale, Kris Villarreal and Daniel Nicholas, of counsel Amir Heyat and associates Anna Barbosa, Jessica Kelly, Jonah Berger-Cahn and Kenneth Bagdasar.

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