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Published on 4/17/2017 in the Prospect News Bank Loan Daily.

FLY Leasing sets talk on term loan repricing; commitments due April 24

By Paul A. Harris

Portland, Ore., April 17 – FLY Leasing set talk on the repricing of its $398 million term loan B (existing ratings Ba3/BB+), according to a market source.

The repricing will see the loan's maturity extended to February 2023 from the present maturity, February 2022.

It is coming with a 225 basis points spread to Libor, with no Libor floor. The present spread is Libor plus 275 bps with a 0.75% Libor floor.

The six months of 101 soft call protection, scheduled to roll off this week, will be reset.

Commitments are due at noon ET on April 24.

RBC Capital Markets is the lead arranger.

The loan was previously repriced in October and November.

FLY is a Dublin-based aircraft lessor.


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