Press release
FTAI Aviation Announces Extension of Early Tender Deadline for its 9.750% Senior Notes Due 2027
NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted company (the “Company” or “FTAI”), announced today
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted company (the “Company” or “FTAI”), announced today that it has amended its previously announced cash tender offer (the “Tender Offer”) to purchase 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”) by (i) extending the Early Tender Deadline to 5:00 p.m., New York City time, on June 18, 2024 (the “Extended Early Tender Deadline”) and (ii) extending the Expiration Time to 5:00 p.m., New York City time, on July 5, 2024. The terms of the Tender Offer otherwise remain unchanged, and the Tender Offer is being made 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 hereby (the “Offer to Purchase”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase. The Tender Offer will expire at 5:00 p.m., New York City time, on July 5, 2024 (the “Extended Expiration Time”), unless extended or earlier terminated by FTAI LLC. FTAI LLC reserves the right to amend, extend or terminate the Tender Offer at any time subject to applicable law. 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terms of the Tender Offer, including the aggregate principal amount of 2027 Notes validly tendered (and not validly withdrawn) as of 5:00 p.m., New York City time on June 14, 2024 (the “Original Early Tender Deadline”). Series of NotesCUSIP Number(1)Aggregate Principal Amount Outstanding Prior to the Tender OfferTender CapAggregate Principal Amount Tendered as of Original Early Tender Deadline Total 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$258,468,000$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 paymen...