FTAI Aviation announced that its subsidiary has priced a private offering of $1.0 billion in senior notes. The company intends to use the net proceeds to repay amounts outstanding under its revolving credit facility and to redeem $500 million of existing senior notes, effectively refinancing a portion of its debt.
Key Details
- Offering: $1.0 billion aggregate principal amount of 7.125% senior notes due 2034, issued at 100% of principal value.
- Use of Proceeds: A portion of the proceeds will be used to (i) repay outstanding debt under its Revolving Credit Facility and (ii) redeem $500.0 million of its existing 5.50% Senior Notes due 2028.
- Issuer & Guarantees: The notes will be issued by subsidiary FTAI Aviation Investors LLC and guaranteed by FTAI Aviation Ltd. and other subsidiaries.