Press release
FTAI Aviation Announces Early Tender Results for its 9.750% Senior Notes Due 2027
NEW YORK, June 19, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted company (the “Company” or “FTAI”) announced today the
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, June 19, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted company (the “Company” or “FTAI”) announced today the early tender results of the previously announced cash tender offer (the “Tender Offer”) to purchase for cash up to $300,000,000 aggregate principal amount (the “Tender Cap”) of Fortress Transportation and Infrastructure Investors LLC’s (“FTAI LLC”) outstanding 9.750% Senior Notes due 2027 (the “2027 Notes”), on the terms and conditions set forth in FTAI LLC’s Offer to Purchase, dated June 3, 2024, as amended on June 3, 2024 and June 17, 2024 (the “Offer to Purchase”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase. According to D.F. King & Co., Inc., the tender and information agent for the Tender Offer, as of 5:00 p.m., New York City time, on June 18, 2024 (the “Extended Early Tender Deadline”), $269,093,000 aggregate principal amount of the outstanding 2027 Notes were validly tendered and not validly withdrawn. The following table sets forth certain terms of the Tender Offer, including the aggregate principal amount of 2027 Notes validly tendered (and not validly withdrawn) as of the Extended Early Tender Deadline. Series of NotesCUSIP Number(1)Aggregate Principal Amount Outstanding Prior to the Tender OfferTender CapAggregate Principal Amount Tendered as of the Extended Early Tender Deadline and Accepted for PurchaseTotal Consideration(2)Early Tender Payment(2)Tender Consideration(2)9.750%Senior Notes due 202734960P AC5 (144A)U3458L AG6 (Reg S)$400,000,000$300,000,000$269,093,000$1,029.00$30.00$999.00 (1) CUSIPs are provided for the convenience of Holders. No representation is made as to the correctness or accuracy of such numbers. (2) Per $1,000 principal amount of 2027 Notes accepted for purchase. Holders who validly tender and do not validly withdraw their 2027 Notes and whose 2027 Notes are accepted for purchase in the Tender Offer will also be paid accrued and unpaid interest from and including the interest payment date immediately preceding the applicable settlement date to, but not including, the applicable settlement date. The withdrawal deadline for the Tender Offer was 5:00 p.m., New York City time, on June 14, 2024 (the “Withdrawal Deadline”). Neither the Withdrawal Deadline nor the Extende...