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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ALLETE subsidiaries secure tax equity funding for two wind sites
January 7, 2021 GMT
DULUTH, Minn. (BUSINESS WIRE) Jan 7, 2021
Two wholly owned subsidiaries of ALLETE (NYSE: ALE) have secured a total of nearly $350 million in tax equity financing in support of two recently completed wind energy sites.
ALLETE Clean Energy on Dec. 30, 2020, sold Class A passive membership interests in Diamond Spring, LLC to FNBC Leasing Corp., an affiliate of JPM Capital Corp. The Diamond Spring wind site is a 303-megawatt wind facility in southern Oklahoma that sells renewable energy to Walmart, Smithfield Foods and Starbucks through renewable energy sales agreements. It achieved full commercial operation in early December.