debt
confidence high
sentiment neutral
materiality 0.60
FTAI Aviation subsidiary issues $500M 5.875% Senior Notes due 2033; to redeem 9.75% 2027 notes
FTAI Aviation Ltd.
- Issuer: Fortress Transportation and Infrastructure Investors LLC; Notes: $500M, 5.875% due April 15, 2033.
- Proceeds to redeem $130.5M outstanding 9.750% Senior Notes due 2027 at 102.438% plus accrued interest.
- Remaining net proceeds used to repay revolver, pay fees, and for general corporate purposes.
- Notes fully and unconditionally guaranteed by FTAI Aviation Ltd.; rank equally with existing senior unsecured debt.
- Make-whole redemption option up to Oct 15, 2027; after that, declining redemption prices, and 101% change-of-control put.