Press release
FTAI Aviation Announces Increase to Previously Announced Cash Tender Offer for its 9.750% Senior Notes Due 2027
NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted company (the “Company” or “FTAI”) previously
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted company (the “Company” or “FTAI”) previously announced the commencement of a tender offer (the “Tender Offer”) by Fortress Transportation and Infrastructure Investors LLC (“FTAI LLC”), a wholly owned subsidiary of the Company, to purchase for cash up to $100,000,000 aggregate principal amount of its outstanding 9.750% Senior Notes due 2027 (the “2027 Notes”) on the terms and conditions described in FTAI LLC’s Offer to Purchase, dated June 3, 2024, as amended by the terms set forth herein (the “Offer to Purchase”). FTAI LLC hereby amends the Tender Offer to purchase for cash up to $300,000,000 in aggregate principal amount of the 2027 Notes. 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 2, 2024 (the “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: Series of NotesCUSIP Number(1)Aggregate Principal Amount OutstandingTender CapTotal 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$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. Each holder who validly tenders, and does not validly withdraw, its 2027 Notes on or prior to 5:00 p.m., New York City time, on June 14, 2024, unless extended (such date and time, as the same may be extended, the “Early Tender Deadline”) will be entitled to an early tender payment, which is included in the total consideration above, of $30.00 for each $1,000 princip...