DUBLIN, Nov. 1, 2017 /PRNewswire/ -- Fly Leasing Limited
(NYSE: FLY) ("FLY"), a global leader in aircraft leasing, today
announced that it repriced its 2012 Term Loan at par. The interest
rate on the amended loan will be LIBOR plus 2.00%, a 0.25%
reduction from the previous margin.
"FLY continues to manage its liability structure
opportunistically to drive higher returns," said Colm Barrington, CEO of FLY. "As a result of the
repricing, FLY will save approximately $1
million of interest expense annually."
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.
Further information on the factors and risks that may affect FLY's
business is included in filings FLY makes with the Securities and
Exchange Commission from time to time, including its Annual Report
on Form 20-F and its reports on Form 6-K. 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