PreferredStockChannel
FTAI Aviation Ltd | 8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (FTAI.PRA)

Prospectus excerpt:  We are offering 3,000,000 of our 8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares, par value $0.01 per share, representing limited liability company interests in Fortress Transportation and Infrastructure Investors LLC (the “Series A Preferred Shares” or the “shares”). Distributions on the shares are cumulative from and including the date of original issue and will be payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, commencing December 15, 2019, in each case when, as, and if declared by our board of directors out of funds legally available for such purpose. An initial distribution on the shares will be payable on December 15, 2019 in an amount equal to approximately $0.53281 per share. Distributions based on the stated liquidation preference of $25.00 per share will be payable on the shares at a rate equal to (i) from and including the date of original issue to, but excluding, September 15, 2024, 8.25% per annum, and (ii) thereafter, an annual floating rate of the Three-Month LIBOR (as defined herein) plus a spread of 688.6 basis points per annum.

Full Prospectus PDF », FTAI Page »

Series:A
Alternate symbology:FTAI-A, FTAI-PA, FTAIprA
Redeemable?:Yes
Call Date:9/15/2024
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:3,000,000
Overallotment:450,000
Liquidation Preference:$25
Original Coupon:8.25%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn FTAI.PRA's Rating
Fortress Transportation and Infrastructure Investors is a holding company. Through its subsidiary, Fortress Worldwide Transportation and Infrastructure General Partnership, is engaged in the acquiring, managing and disposing of transportation and transportation-related infrastructure and equipment assets. Co.'s operations consist of two primary business units: Infrastructure and Equipment Leasing. Co.'s Infrastructure Business acquires long-lived assets that provide services or functions to transportation networks. Co.'s Equipment Leasing Business acquires assets that are designed to carry cargo or people or provide functionality to transportation infrastructure.

Preferreds: FTAIP, FTAIO, FTAIN, FTAIM


Open the FTAI Information Page »
Name: 
FTAI Aviation Ltd
Website: 
www.ftaiaviation.com
Sector: 
Air Services Other
Number of ETFs Holding FTAI: 
31 (see which ones)
Total Market Value Held by ETFs: 
$794,002,794.5
Total Market Capitalization: 
$6,686,000,000
% of Market Cap. Held by ETFs: 
11.88%

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