FLY Leasing Extends 2012 Term Loan
DUBLIN, Ireland, October 20, 2016 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global leader in aircraft leasing, today announced that it extended the maturity date of its 2012 Term Loan from August 2019 to February 2022. The Term Loan had a balance of approximately $410 million as of September 30, 2016. In connection with the extension, FLY paid its lenders a one-time fee of 0.25% of the current outstanding principal amount.
“FLY continues to manage its liability structure in an aggressive manner, taking every opportunity to extend its debt maturities, de-risk its financial position and secure attractive, long-term financing to fund growth,” said Colm Barrington, CEO of FLY.
FLY is a global aircraft leasing company with a fleet of modern, high-demand and fuel-efficient commercial jet aircraft. FLY leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide leader in aircraft lease management and financing. For more information visit www.flyleasing.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for FLY’s future business and financial performance and the financial and accounting impact of the transaction described herein. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks. FLY expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, or otherwise.
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FLY Leasing Limited