debt
confidence high
sentiment positive
materiality 0.65
FTAI Aviation subsidiary prices $500M 5.875% senior notes due 2033, upsize from $400M
FTAI Aviation Ltd.
- FTAI LLC priced $500M (upsized from $400M) of 5.875% senior notes due 2033 at 99.50% of par.
- FTAI Aviation fully and unconditionally guarantees the new notes on a senior unsecured basis.
- Net proceeds to redeem all outstanding 9.750% Senior Notes due 2027 (approx. $400M) and repay revolver.
- Refinancing reduces annual interest cost from 9.75% to 5.875% on the replaced debt.
- Remaining proceeds for general corporate purposes; offering closed to QIBs and offshore buyers.