debt
confidence high
sentiment neutral
materiality 0.65
FIP subsidiary Long Ridge Energy plans $500M senior secured notes offering due 2032
FTAI Infrastructure Inc.
- Long Ridge Energy LLC (FIP equity method investment) intends $500M private offering of senior secured notes due 2032.
- Notes will be fully and unconditionally guaranteed by Long Ridge Energy and Ohio GasCo on a joint and several basis.
- Proceeds plus new $500M term loan will repay ~$599M existing loans, fund reserves and new electricity derivative contracts.
- Offering limited to QIBs under Rule 144A and Regulation S; notes not registered under Securities Act.