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FLY Leasing prices $410 million term loan extension at par
By Paul A. Harris
Portland, Ore., Oct. 18 – FLY Leasing priced $410 million term loan extension at par, according to a market source.
The deal, which extends the maturity of the loan to February 2022 from August 2019, was trading at par 1/8 bid, par ½ offered late Tuesday, the source added.
Pricing on the extended term loan is unchanged from current pricing of Libor plus 275 basis points with a 0.75% Libor floor, the source said.
The extended term loan will have 101 soft call protection for six months.
Lenders are being offered a 25 bps fee for the extension, the source added.
RBC Capital Markets was the lead on the deal.
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