Fly Leasing moves up timing, talks $250 million seven-year notes to yield 6¾%-7%; pricing Friday

By Paul A. Harris

Portland, Ore., Dec. 6 - Fly Leasing Ltd. talked its $250 million offering of seven-year senior notes (/BB/) to yield 6¾% to 7%, an informed source said on Friday.

Timing on the deal is moved ahead. Books close at noon ET on Friday, and the notes are expected to be priced shortly thereafter. Previously the deal was expected to price early in the week ahead.

Jefferies is the bookrunner for the public offering.

The notes will be callable after three years at par plus 75% of the coupon.

The Dublin-based aircraft lessor plans to use the proceeds for general corporate purposes, including the acquisition of aircraft.

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