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Flying Fortress launches $750 million term B at Libor plus 175 bps
By Sara Rosenberg
New York, Feb. 15 – Flying Fortress Holdings LLC held a lender call at 10 a.m. ET on Thursday to launch a $750 million term loan B that is talked at Libor plus 175 basis points with a 0% Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months and a 63% LTV test covenant, the source said.
RBC Capital Markets and Bank of America Merrill Lynch are the arrangers on the deal.
Commitments are due at noon ET on Feb. 22, the source added.
Proceeds will be used to reprice an existing term loan down from Libor plus 200 bps with a 0% Libor floor.
Flying Fortress is a subsidiary of AerCap Holdings NV, a Dublin-based aircraft leasing company.
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