FTAI Infrastructure closes $50M add-on to 10.5% senior secured notes due 2027

FTAI Infrastructure Inc.

Issued $50M additional 10.5% senior secured notes at 94.585% of par, total outstanding now $500M.
Notes mature June 1, 2027; interest payable semi-annually starting Dec 1, 2022.
Issuance in connection with planned spin-off of infrastructure business from FTAI; proceeds to repay parent debt.
If spin-off not consummated by Sep 10, 2022, notes subject to special mandatory redemption at 100% of issue price plus accrued interest.
Post-spin-off, notes secured by substantially all assets of FTAI Infrastructure and guaranteed by its subsidiaries (excluding Transtar).

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