Summary
FTAI Aviation Ltd. (FTAI) reported on May 31, 2018, the closing of a private offering for an additional $100 million aggregate principal amount of its 6.75% senior notes due 2022. These Additional Notes were issued at par, alongside accrued interest. The company intends to use the net proceeds from this offering for general corporate purposes, which may include funding future investments, providing flexibility for strategic growth and operational needs. This issuance brings the total outstanding aggregate principal amount of these senior notes to $550 million. The Additional Notes share identical terms with the previously issued notes (Original Notes, August Notes, and December Notes), consolidating them into a single class for indenture purposes. Investors should note that these Additional Notes were offered and sold privately, and thus have not been registered under the Securities Act of 1933, meaning they are subject to restrictions on resale in the United States unless an exemption applies.
Key Highlights
- 1FTAI closed a private offering of $100 million in additional 6.75% senior notes due 2022.
- 2The offering was priced at 100.00% of principal, plus accrued interest.
- 3Proceeds are intended for general corporate purposes, including potential future investments.
- 4Total outstanding aggregate principal amount of 6.75% senior notes due 2022 now stands at $550 million.
- 5The Additional Notes are fungible with existing notes and treated as a single class under the indenture.
- 6The notes were issued under a private placement exemption and are not registered under the Securities Act of 1933.