FLY Leasing plans new debt financing with buyout by Carlyle

By Sara Rosenberg

New York, March 30 – FLY Leasing Ltd. has received a commitment for debt financing to help fund its acquisition by Carlyle Aviation Partners, according to a 6-K filed with the Securities and Exchange Commission on Tuesday.

RBC Capital Markets is providing the financing.

Under the agreement, FLY Leasing shareholders will receive $17.05 per share in cash, representing a total equity valuation of about $520 million. The total enterprise value of the transaction is around $2.36 billion.

Closing is expected in the third quarter, subject to customary conditions, including regulatory clearance and shareholder approval.

FLY is a Dublin-based aircraft leasing company.

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