Summary
FTAI Aviation Ltd. (FTAI) announced on May 17, 2019, the pricing of a private offering of additional 6.50% senior notes due 2025. The company is issuing $150.0 million in aggregate principal amount of these notes at a slight discount to par (99.125% of principal). This offering will supplement the existing $300.0 million of these notes already outstanding, effectively increasing the total principal amount of this debt issuance. The net proceeds from this offering are earmarked for general corporate purposes. A key detail for investors is that these funds are intended to support future investments, with a specific mention of potential aviation-related investments. The company cautions that this is a forward-looking statement and actual use of proceeds may vary, subject to various risks and uncertainties outlined in their SEC filings.
Key Highlights
- 1FTAI Aviation priced an offering of $150.0 million of additional 6.50% senior notes due 2025.
- 2The notes were issued at 99.125% of their principal amount, plus accrued interest.
- 3The offering increases the total outstanding principal of these senior notes to $450.0 million ($300.0M existing + $150.0M new).
- 4Proceeds are intended for general corporate purposes, including future investments.
- 5A specific focus for future investments mentioned is within the aviation sector.
- 6The offering was conducted privately to qualified institutional buyers and non-U.S. persons under specific securities regulations (Rule 144A and Regulation S).
- 7The company includes standard cautionary language regarding forward-looking statements and potential risks.