FTAI Aviation Shares up on $1 Billion Senior Note Offering
Dow Jones02:14
Shares of FTAI Aviation rose after the company disclosed a $1 billion senior note private offering due 2034.
Shares rose 7.2% to $200.47 on Monday. The stock is up 1.8% year to date.
The notes will be guaranteed by FTAI Aviation and other subsidiaries, giving guarantees to existing senior debt holders.
FTAI Aviation plans to use a portion of the proceeds to repay its revolving credit facility, which was incurred to fund the company's accelerated share repurchase program. The company also plans to redeem a portion of its 5.5% senior notes due 2028 and pay fees related to the foregoing transactions.
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