FTAI Aviation Commences Cash Tender Offer for its 9.750% Senior Notes Due 2027

Core Viewpoint - FTAI Aviation Ltd. is initiating a cash tender offer to purchase up to $100 million of its outstanding 9.750% Senior Notes due 2027, with the offer set to expire on July 2, 2024, unless extended or terminated earlier [1][2]. Tender Offer Details - The tender offer is for a total of $400 million in outstanding 2027 Notes, with a tender cap of $100 million [2]. - The total consideration for the 2027 Notes is $1,029.00 per $1,000 principal amount, with an early tender payment of $30.00 for those who tender by June 14, 2024 [2][4]. - Holders who validly tender their notes will also receive accrued and unpaid interest from the last interest payment date to the settlement date [3][6]. Early Tender and Settlement - Holders who tender by the Early Tender Deadline will receive the early tender payment, while those who tender after will only receive the total consideration minus the early tender payment [5]. - FTAI LLC may accept all notes tendered by the Early Tender Deadline prior to the Expiration Time, with an announcement expected on June 18, 2024 [7]. Conditions and Management - The acceptance of the tendered notes is subject to certain conditions, including the completion of a debt financing satisfactory to FTAI LLC [8]. - J.P. Morgan Securities LLC is acting as the dealer manager for the tender offer, and inquiries can be directed to them [9]. Company Overview - FTAI Aviation Ltd. focuses on owning and maintaining commercial jet engines, particularly CFM56 and V2500 engines, and provides cost savings and flexibility to its customers [11]. - The company invests in aviation assets and aerospace products that generate strong cash flows and have potential for earnings growth and asset appreciation [11].