FTAI Aviation Tender Offer Results – $324.63M Accepted

FTAI Aviation Ltd. (NASDAQ: FTAI) has announced the results of its cash tender offer for any and all of its outstanding 6.50% senior notes due 2025. The tender offer expired on April 8, 2024, and according to information received from the tender agent and information agent, $324,630,000 aggregate principal amount of the 2025 senior notes were validly tendered and not validly withdrawn.

The table provided in the press release indicates that the aggregate principal amount outstanding of the 6.50% senior notes due 2025 was $650,000,000, and $324,630,000 of this amount has been tendered and accepted for purchase at a tender consideration of $1,000 per $1,000 principal amount of notes validly tendered and accepted for purchase.

FTAI Aviation Ltd. plans to accept for purchase the $324,630,000 aggregate principal amount of 2025 senior notes under the tender offer, which includes notes delivered pursuant to the guaranteed delivery procedures. Additionally, holders whose 2025 senior notes are accepted for purchase will receive a cash payment representing the accrued and unpaid interest on such notes from the last interest payment date up to, but not including, the settlement date.

Morgan Stanley & Co. LLC acted as the sole dealer manager for the tender offer, while D.F. King & Co., Inc. served as the tender and information agent for the tender offer.

FTAI Aviation Ltd. focuses on owning and maintaining commercial jet engines, particularly the CFM56 and V2500 engines, and also owns and leases jet aircraft. The company's proprietary portfolio of products, including the module factory and a joint venture to manufacture engine PMA, enables it to provide cost savings and flexibility to its customer base.

As a result of these announcements, the company's shares have moved -1.2% on the market, and are now trading at a price of $70.91. Check out the company's full 8-K submission here.

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