FLY Leasing seeks $105 million add-on term loan led by RBC

By Sara Rosenberg

New York, Nov. 8 - FLY Leasing Ltd. is in market with a fungible $105 million add-on term loan (BBB-), according to a market source.

RBC Capital Markets is the lead bank on the deal that launched on Thursday.

Price talk on the add-on is Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 993/4, the source said.

Proceeds will be used to fund seven aircraft.

In addition, the company is seeking to extend the maturity of its existing term loan by one year to August 2019.

The add-on and the existing term loan will have 101 soft call protection for one year, the source added.

Lenders are being offered a 25 bps amendment fee.

Consents and commitments are due on Thursday.

FLY Leasing is a Dublin-based aircraft lessor.

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