debt
confidence medium
sentiment neutral
materiality 0.55
FTAI Infrastructure's investee Long Ridge plans $600M refinancing; targets $226M revenue
FTAI Infrastructure Inc.
- Long Ridge subsidiary plans new senior secured term loan to refinance ~$600M of existing loans.
- Proceeds also will fund termination of certain electricity sale derivatives and entry into new contracts.
- Targets annual revenue of ~$226M and Adjusted EBITDA of ~$160M post-transactions.
- Assumes power plant operates at 90% capacity; 325 MW under new derivatives at market rates.
- Refinancing is not yet completed; actual results may vary materially from targets.