FTAI’s Fortress accepts tenders for $324.63 million 6½% notes

By Marisa Wong

Los Angeles, April 11 – FTAI Aviation Ltd. announced the expiration and results of wholly owned subsidiary Fortress Transportation and Infrastructure Investors LLC’s April 2 offer to purchase for cash any and all of the $650 million outstanding principal amount of its 6½% senior notes due 2025 (Cusip: 34960PAB7, US3458LAD3).

As of the expiration of the offer at 5 p.m. ET on April 8, holders had tendered $324.63 million of the notes, according to a Thursday press release.

The company plans to accept for purchase the $324.63 million of tendered notes, including notes tendered under guaranteed delivery procedures.

Tenders made under guaranteed delivery procedures were due by 5 p.m. ET on April 10.

The company will pay a tender consideration of $1,000 per $1,000 principal amount, plus accrued interest.

Settlement was expected to occur on April 11.

The offer is not conditioned on any minimum amount being tendered but is conditioned on Fortress raising sufficient proceeds from an offering of new senior notes to fund the tender offer.

Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057) is acting as the dealer manager for the tender offer.

D.F. King & Co., Inc. (212 269-5550 for banks and brokers or 800 290-6432 for all others; ftai@dfking.com; www.dfking.com/ftai) is the tender and information agent.

New York-based FTAI owns and maintains commercial jet engines.

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