8-KMaterial AgreementsFinancial EventsExhibits & Filings

FTAI Aviation Ltd. 8-K Report, Material Agreement (Jan 27, 2017)

Filed January 27, 2017For Securities:FTAIFTAIMFTAIN

Summary

FTAI Aviation Ltd. (FTAI) announced on January 27, 2017, the execution of a Credit Agreement on January 23, 2017, which facilitated the borrowing of $100 million in term loans. These funds are designated for general corporate purposes, including the strategic acquisition of aviation and infrastructure assets. The Credit Agreement involves Fortress Transportation and Infrastructure Investors LLC as the holding company, with its subsidiary WWTAI Finance Ltd. acting as the borrower. The loans are guaranteed by the Company, IntermediateCo, and certain subsidiaries, and are secured by the capital stock of specific direct subsidiaries of IntermediateCo. This financing provides FTAI with capital to pursue growth opportunities in its core sectors.

Key Highlights

  • 1FTAI Aviation Ltd. secured $100 million in term loans via a Credit Agreement executed on January 23, 2017.
  • 2Proceeds from the term loans are intended for general corporate purposes, including future acquisitions of aviation and infrastructure assets.
  • 3The borrower under the Credit Agreement is WWTAI Finance Ltd., a wholly-owned subsidiary of the Company.
  • 4The loans are guaranteed by Fortress Transportation and Infrastructure Investors LLC, IntermediateCo, and certain subsidiary guarantors.
  • 5The term loans are secured by the capital stock of certain direct subsidiaries of IntermediateCo.
  • 6Interest rates are variable, based on either the Adjusted Eurodollar Rate plus 3.75% or the Base Rate plus 2.75%.
  • 7The Credit Agreement includes customary affirmative and negative covenants but notably contains no financial covenants.

Frequently Asked Questions

FTAI Aviation Ltd. obtained $100,000,000 in term loans under the Credit Agreement.

The proceeds are designated for general corporate purposes, including future acquisitions of aviation and infrastructure assets by the borrower and its subsidiaries.

The term loans mature on January 22, 2018, with an option for the borrower to elect an extension of up to one year under specific terms.

No, the Credit Agreement contains no financial covenants, which is a notable feature for investors.