FTAI Aviation Announces $100M Tender Offer

FTAI Aviation Ltd. (NASDAQ: FTAI) has announced the commencement of a cash tender offer for its 9.750% senior notes due 2027. The company is looking to repurchase up to $100,000,000 aggregate principal amount of its outstanding 2027 notes. The tender offer will expire at 5:00 p.m., New York City time, on July 2, 2024, unless extended or terminated earlier.

Here are some key details of the tender offer: The aggregate principal amount outstanding of the 9.750% senior notes due 2027 is $400,000,000. The tender cap is set at $100,000,000. The total consideration for the notes is $1,029.00 per $1,000 principal amount, inclusive of a $30.00 early tender payment. Holders who validly tender and do not withdraw their notes by June 14, 2024, will be entitled to the early tender payment. If the tender offer is fully subscribed as of the early tender deadline, holders who tender after that point will not have their notes accepted for payment. The company reserves the right, following the early tender deadline, to accept for purchase prior to the expiration time all notes validly tendered on or before the early tender deadline. * The company's obligation to accept for purchase and pay for the notes is subject to certain conditions, including the completion of a debt financing on terms satisfactory to the company.

FTAI Aviation Ltd. has retained J.P. Morgan Securities LLC to act as the dealer manager in connection with the tender offer. Holders of the 2027 notes are urged to read the tender offer documents carefully.

About FTAI Aviation Ltd. FTAI owns and maintains commercial jet engines, focusing on CFM56 and V2500 engines. The company's portfolio of products enables it to provide cost savings and flexibility to its customer base. Additionally, FTAI owns and leases jet aircraft, which often facilitates the acquisition of engines at attractive prices. The company invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation. Following these announcements, the company's shares moved -2.3%, and are now trading at a price of $82.41. For more information, read the company's full 8-K submission here.

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