Fortress Transportation and Infrastructure Investors LLC Announces Amendment to Credit Agreement Facility
February 11 2019 - 6:50AM
Fortress Transportation and Infrastructure Investors LLC
(NYSE:FTAI; the "Company") announced today the signing of an
Amendment (the “Amendment”) to an Existing Credit Agreement (the
“Existing Credit Agreement”) with JPMorgan Chase Bank, N.A., Morgan
Stanley Senior Funding, Inc., and Barclays Bank PLC as lenders and
issuing banks, and JPMorgan Chase Bank, N.A. as administrative
agent (the Existing Credit Agreement, as amended by the Amendment,
the “Amended Credit Agreement”).
The Amendment increases the aggregate revolving
commitments under the Existing Credit Agreement from $125 million
to $250 million, and extends the maturity date of the revolving
loans and commitments to January 31, 2022. The loans under the
Amended Credit Agreement also makes certain modifications to the
financial covenants under the Existing Credit Agreement.
The foregoing description of the Amendment does
not purport to be complete and is subject to, and qualified in its
entirety by reference to, the full text of the Amendment. The
Company has filed or will file an 8-K with the Securities and
Exchange Commission with more complete information about the
Amended Credit Agreement.
About Fortress Transportation and
Infrastructure Investors LLC
Fortress Transportation and Infrastructure
Investors LLC (“FTAI”) 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.
For further information, please
contact:
Alan AndreiniInvestor RelationsFortress
Transportation and Infrastructure Investors LLC(212)
798-6128aandreini@fortress.com
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