Fortress Transportation and Infrastructure Investors LLC Announces the Pricing of the Private Offering of Jefferson Energy Co...
January 30 2020 - 4:15PM
Fortress Transportation and Infrastructure Investors LLC
(NYSE:FTAI), through its Jefferson Energy companies (“Jefferson”),
and The Port of Beaumont Navigation District of Jefferson County,
Texas, announced the pricing of their previously announced private
offering of Series 2020 Bonds with an aggregate principal amount of
$263,980,000.
The Series 2020 Bonds will be designated as
$184,920,000 of Series 2020A Dock and Wharf Facility Revenue Bonds
(the “Series 2020A Bonds”), and $79,060,000 of Series 2020B Taxable
Facility Revenue Bonds (the “Taxable Series 2020B
Bonds”).
The Series 2020A Bonds maturing on January 1,
2035 ($53,520,000 aggregate principal amount) will bear interest at
a fixed rate of 3.625%, the Series 2020A Bonds maturing on January
1, 2050 ($131,400,000 aggregate principal amount) will bear
interest at a fixed rate of 4.00%, and the Taxable Series 2020B
Bonds will mature on January 1, 2025 and will bear interest at a
fixed rate of 6.00%. The closing of the offering is subject
to certain limited conditions and is expected to occur on or before
February 11, 2020.
The Series 2020 Bonds are special, limited
obligations of The Port of Beaumont Navigation District of
Jefferson County, Texas, payable from, and secured solely by, the
trust estate and the collateral pledged therefor. Contractual
arrangements entered into in connection with the offering will
provide that Jefferson bears the economic obligation to pay
principal, interest and other amounts under the Series 2020 Bonds
as and when due.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Fortress Transportation and
Infrastructure Investors LLCFortress Transportation and
Infrastructure Investors LLC owns and acquires high quality
infrastructure and equipment that is essential for the
transportation of goods and people globally. FTAI targets
assets that, on a combined basis, generate strong and stable cash
flows with the potential for earnings growth and asset
appreciation. FTAI is externally managed by an affiliate of
Fortress Investment Group LLC, a leading, diversified global
investment firm.
Cautionary Language Regarding
Forward-Looking StatementsThis press release contains
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including but not limited
to the Company’s anticipated use of the net proceeds from the
offering, and the anticipated closing and closing date of the
offering. Forward-looking statements are not statements of
historical fact but instead are based on our present beliefs and
assumptions and on information currently available to the
Company. You can identify these forward- looking statements
by the use of forward-looking words such as “outlook,” “believes,”
“expects,” “potential,” “continues,” “may,” “will,” “should,”
“could,” “seeks,” “approximately,” “predicts,” “intends,” “plans,”
“estimates,” “anticipates,” “target,” “projects,” “contemplates” or
the negative version of those words or other comparable
words. Any forward-looking statements contained in this press
release are based upon our historical performance and on our
current plans, estimates and expectations in light of information
currently available to us. The inclusion of this
forward-looking information should not be regarded as a
representation by us, that the future plans, estimates or
expectations contemplated by us will be achieved. Such
forward-looking statements are subject to various risks and
uncertainties and assumptions relating to our operations, financial
results, financial condition, business, prospects, growth strategy
and liquidity. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements, including, but not
limited to, the risk factors set forth in Item 1A. “Risk
Factors” of the Company’s Annual Report on Form 10-K for fiscal
year ended December 31, 2018 and Quarterly Report on Form 10-Q for
the fiscal quarter ended September 30, 2019, as updated by annual,
quarterly and other reports the Company files with the SEC.
For further information, please contact:
Alan AndreiniInvestor RelationsFortress
Transportation and Infrastructure Investors LLC(212)
798-6128aandreini@fortress.com
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