FLY talks $385 million term loan repricing at Libor plus 350-375 bps

By Sara Rosenberg

New York, Feb. 14 - FLY Leasing Ltd. launched a repricing of its roughly $385 million term loan due August 2018 with a call on Thursday with talk of Libor plus 350 basis points to 375 bps with a 1.25% Libor floor and a par offer price, according to a market source.

The repriced loan has 101 soft call protection for one year, the source said.

With this transaction, pricing on the term loan will come down from Libor plus 450 bps with a 1.25% Libor floor.

Commitments are due on Feb. 21, the source added.

Citigroup Global Markets Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc. and RBC Capital Markets are leading the deal.

FLY is an aircraft lessor with corporate offices in Dublin, Ireland and San Francisco.

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