FTAI Aviation Ltd. (FTAI): debt financing — FTAI Aviation subsidiary closes $500M 7.875% senior notes offering due 2030

FTAI Aviation Ltd.

$500M aggregate principal of 7.875% senior unsecured notes, maturing December 1, 2030.
Net proceeds to repay outstanding revolving borrowings with JPMorgan and for general corporate purposes.
Interest payable semi-annually on June 1 and December 1, starting June 1, 2024.
Redeemable at 103.938% on Dec 1, 2026, declining to 100% by Dec 1, 2028; change-of-control put at 101%.
Notes fully and unconditionally guaranteed by FTAI Aviation Ltd.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

FTAI Aviation Ltd. incurred senior notes of $500.0 million aggregate principal amount with Issuer: Fortress Transportation and Infrastructure Investors LLC (subsidiary of FTAI Aviation Ltd.), Guarantor: FTAI Aviation Ltd. at 7.875% per annum maturing December 1, 2030.

Instrument: senior notes
Principal: $500.0 million aggregate principal amount
Counterparty: Issuer: Fortress Transportation and Infrastructure Investors LLC (subsidiary of FTAI Aviation Ltd.), Guarantor: FTAI Aviation Ltd.
Rate: 7.875% per annum
Maturity: December 1, 2030
Event: incurrence

Exact text from the filing

On November 21, 2023, FTAI Aviation Ltd. (“FTAI Aviation” and, together with its consolidated subsidiaries, the “Company,” “we,” “us” or “our”) announced that Fortress Transportation and Infrastructure Investors LLC, its subsidiary (the “Issuer”) closed its previously announced private offering (the “Private Offering”) of $500.0 million aggregate principal amount of 7.875% senior notes due 2030 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FTAI Aviation Ltd. entered into Indenture with U.S. Bank Trust Company, National Association, as trustee valued at $500.0 million aggregate principal amount of 7.875% senior notes due 2030 (effective 2023-11-21).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association, as trustee
Value: $500.0 million aggregate principal amount of 7.875% senior notes due 2030
Effective: 2023-11-21

Exact text from the filing

fortress Transportation and Infrastructure Investors LLC, its subsidiary (the “Issuer”) closed its previously announced private offering (the “Private Offering”) of $500.0 million aggregate principal amount of 7.875% senior notes due 2030 (the “Notes”). The Notes were issued pursuant to an indenture, dated as of November 21, 2023 (the “Indenture”), among the Issuer, the Company, as guarantor, and U.S. Bank Trust Company, National Association, as trustee.

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FTAI Aviation Ltd. filing history →

Source: SEC EDGAR

accession 0001140361-23-054468

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