Los Angeles-based aircraft leasing company, Air Lease, has raised $802.5 million in an initial public offering (IPO), Reuters reports. The company sold a total of 30.3 million of shares at $26.50 per unit, 5 million shares more than it expected. The lead underwriters on the offering are JPMorgan and Credit Suisse. Air Lease, backed by Leonard Green & Partners, Ares Management and WL Ross & Company, aims to use the proceeds from the offering to complete about $6.8 billion in aircraft purchases.
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