{"id":6833,"date":"2019-11-25T19:38:21","date_gmt":"2019-11-26T01:38:21","guid":{"rendered":"http:\/\/planesintheair.com\/?p=6833"},"modified":"2019-11-25T19:38:21","modified_gmt":"2019-11-26T01:38:21","slug":"fly-leasing-reprices-and-extends-2012-term-loan","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=6833","title":{"rendered":"Fly Leasing Reprices and Extends 2012 Term Loan"},"content":{"rendered":"\n

DUBLIN,\u00a0Nov. 25, 2019\u00a0\/PRNewswire\/ —\u00a0Fly Leasing Limited (FLY<\/a>) (“FLY”), a global leader in aircraft leasing, today announced it has repriced its\u00a0$385 million\u00a0Term Loan. The interest rate on the amended loan is LIBOR plus 1.75%, a 0.25% margin reduction. Additionally, the maturity has been extended by more than two years from\u00a0February 2023\u00a0to\u00a0August 2025. In conjunction with the extension, FLY paid a one-time fee of 0.25% OID to the lenders.<\/p>\n\n\n\n

\"FLY
FLY Leasing Limited logo. (PRNewsFoto\/FLY Leasing Limited)<\/figcaption><\/figure>\n\n\n\n

“FLY’s strong upward trajectory, combined with its significant deleveraging and recent Standard & Poor’s rating upgrade, created the momentum for the successful repricing of FLY’s largest debt facility. We anticipate annual cash interest savings of nearly\u00a0$1 million,” said\u00a0Colm Barrington, CEO of FLY.\u00a0 “We remain committed to reducing our borrowing costs while opportunistically extending debt maturities. FLY will continue to explore other opportunities to optimize its balance sheet and create value.”<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Fly Leasing Limited (NYSE: FLY) (“FLY”), a global leader in aircraft leasing, today announced it has repriced its $385 million Term Loan. The interest rate on the amended loan is LIBOR plus 1.75%, a 0.25% margin reduction. Additionally, <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4813,89,5637,5992,7929,2203,5676,8004,1397,868,1103],"tags":[8758,464,420,160,8755,8756,1919,8523,5450,2332,1915,4420,1440,3874,2873,1493,3615,412,8757,2452,3321,4498,8754,4804,4058,6787,1691,1658,2904],"class_list":["post-6833","post","type-post","status-publish","format-standard","hentry","category-airplane-news","category-aviation-news","category-business-news","category-economic-news","category-european-news","category-finance-news","category-international-news","category-leasing-news","category-stock-news","category-transportation-news","category-travel-news","tag-8758","tag-aircraft","tag-airline","tag-aviation","tag-conjunction","tag-deleveraging","tag-dublin","tag-extends","tag-extension","tag-fly","tag-global","tag-interest","tag-ireland","tag-leader","tag-leasing","tag-limited","tag-loan","tag-news","tag-poors","tag-prnewswire","tag-rate","tag-rating","tag-reprices","tag-standard","tag-term","tag-trajectory","tag-transport","tag-transportation","tag-upgrade"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/6833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6833"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/6833\/revisions"}],"predecessor-version":[{"id":6835,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/6833\/revisions\/6835"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}