U.S. Markets closed

Air Lease secondary stock offering is priced

LOS ANGELES (AP) -- Air Lease said Friday that a secondary offering of 8 million shares of its common stock was priced at $26.75 per share.

This is a 3 percent discount to the stock's Thursday closing price of $27.46. Shares fell 56 cents, or 2 percent, to $26.90 in premarket trading Friday.

Air Lease Corp., which leases planes to various airlines, said Tuesday that stockholders are offering the shares and the company won't receive any proceeds from it. Its total number of outstanding shares won't change.

Those selling Air Lease shares include affiliates of Ares Management LLC, Leonard Green & Partners L.P. and WL Ross & Co. The underwriter has a 30-day option to buy up to an additional 800,000 shares from the selling stockholders.

The offering is expected to close Wednesday.

Air Lease is based in Los Angeles.