FTAI Infrastructure launches $50M add-on note offering for spin-off financing

FTAI Infrastructure Inc.

Offering $50M of 10.500% senior secured notes due 2027, supplementing $450M existing notes.
Net proceeds will be distributed to parent FTAI to repay debt and cover fees.
Notes initially issued by escrow subsidiary; upon spin-off, FTAI Infrastructure becomes issuer.
Also planning $300M preferred stock issuance to certain investors as part of spin-off.
Spin-off involves conversion to Delaware corporation and name change to FTAI Infrastructure Inc.

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