DUBLIN, Oct. 20, 2016 /PRNewswire/ -- FLY Leasing
Limited (NYSE: FLY) ("FLY"), a global leader in aircraft leasing,
today announced that it extended the maturity date of its 2012 Term
Loan from August 2019 to February 2022. The Term Loan had a balance of
approximately $410 million as of
September 30, 2016. In connection
with the extension, FLY paid its lenders a one-time fee of 0.25% of
the current outstanding principal amount.
"FLY continues to manage its liability structure in an
aggressive manner, taking every opportunity to extend its debt
maturities, de-risk its financial position and secure attractive,
long-term financing to fund growth," said Colm Barrington, CEO of FLY.
About FLY
FLY is a global aircraft leasing company with a fleet of modern,
high-demand and fuel-efficient commercial jet aircraft. FLY leases
its aircraft under multi-year operating lease contracts to a
diverse group of airlines throughout the world. FLY is managed and
serviced by BBAM LP, a worldwide leader in aircraft lease
management and financing. For more information visit
www.flyleasing.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by words such
as "expects," "intends," "anticipates," "plans," "believes,"
"seeks," "estimates," "will," or words of similar meaning and
include, but are not limited to, statements regarding the outlook
for FLY's future business and financial performance and the
financial and accounting impact of the transaction described
herein. Forward-looking statements are based on management's
current expectations and assumptions, which are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. Actual outcomes and results may differ
materially due to global political, economic, business,
competitive, market, regulatory and other factors and risks. FLY
expressly disclaims any obligation to update or revise any of these
forward-looking statements, whether because of future events, new
information, a change in its views or expectations, or
otherwise.
Contact:
Matt Dallas
Investor Relations
FLY Leasing Limited
+1 203-769-5916
ir@flyleasing.com
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SOURCE FLY Leasing Limited