FTAI Aviation closes $65M offering of 2.6M Series D Preferred Shares at 9.5%

FTAI Aviation Ltd.

Closed offering of 2,600,000 Series D Preferred Shares at $25/share on March 15, 2023; underwriters have 30-day option for up to 390,000 additional shares.
Initial distribution rate 9.500% per annum; after June 15, 2028, resets to Five-Year Treasury Rate plus 516.2 bps.
Shares rank senior to ordinary shares and pari passu with Series A, B, and C preferred shares.
Redeemable at $25.00 per share on or after June 15, 2028; special redemption at $25.50 before that date for Rating Event; no mandatory redemption.
No stated maturity; limited voting rights only if dividends unpaid for six or more quarterly periods.

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