Press release
Fortress Transportation and Infrastructure Investors LLC Announces the Pricing of the Private Offering of Jefferson Energy Companies Series 2020 Bonds
NEW YORK, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI), through its Jefferson Energy companies
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[{"type":"text","content":"NEW YORK, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI), through its Jefferson Energy companies (“Jefferson”), and The Port of Beaumont Navigation District of Jefferson County, Texas, announced the pricing of their previously announced private offering of Series 2020 Bonds with an aggregate principal amount of $263,980,000.\n The Series 2020 Bonds will be designated as $184,920,000 of Series 2020A Dock and Wharf Facility Revenue Bonds (the “Series 2020A Bonds”), and $79,060,000 of Series 2020B Taxable Facility Revenue Bonds (the “Taxable Series 2020B Bonds”). The Series 2020A Bonds maturing on January 1, 2035 ($53,520,000 aggregate principal amount) will bear interest at a fixed rate of 3.625%, the Series 2020A Bonds maturing on January 1, 2050 ($131,400,000 aggregate principal amount) will bear interest at a fixed rate of 4.00%, and the Taxable Series 2020B Bonds will mature on January 1, 2025 and will bear interest at a fixed rate of 6.00%. The closing of the offering is subject to certain limited conditions and is expected to occur on or before February 11, 2020. The Series 2020 Bonds are special, limited obligations of The Port of Beaumont Navigation District of Jefferson County, Texas, payable from, and secured solely by, the trust estate and the collateral pledged therefor. Contractual arrangements entered into in connection with the offering will provide that Jefferson bears the economic obligation to pay principal, interest and other amounts under the Series 2020 Bonds as and when due. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Fortress Transportation and Infrastructure Investors LLCFortress Transportation and Infrastructure Investors LLC owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an ...