FTAI Infrastructure to offer $100M in additional 10.5% senior secured notes due 2027

FTAI Infrastructure Inc.

Proceeds from Additional Notes will repay $25M Bridge Loan (maturing Dec 31, 2023) and Transtar revolver.
Series A Preferred holders approved amendment to allow note offering; may buy up to $33.4M of Additional Notes.
Q1 2023 segment Adjusted EBITDA: Railroad $17.2M, Jefferson $6.5M, Repauno -$4.9M, Power & Gas $11.3M.
Aspirational illustrative potential: consolidated annual Adjusted EBITDA >$200M based on ramp-up assumptions.
Bridge Loan bears interest at Base +6.50% or SOFR +7.50%.

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