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FLY Leasing launches $391 million term loan B at Libor plus 175 bps
By Sara Rosenberg
New York, Nov. 12 – FLY Leasing launched on its lender call on Tuesday a $391 million term loan B (Ba2/BBB-) due Aug. 9, 2025 that is talked at Libor plus 175 basis points, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
RBC Capital Markets is the lead on the deal.
Proceeds will be used to reprice from Libor plus 200 bps and extend by 2.5 years an existing term loan B.
Extending lenders will be paid a 25 bps extension fee, the source added.
Commitments are due at noon ET on Nov. 19.
FLY is a Dublin-based aircraft lessor.
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