Fly Leasing, the BBAM affiliate, has announced the closing of a new five-year, $180 million term loan at LIBOR plus 6%, with a 1% LIBOR floor.
The financing was issued at an original issue discount of 4.5%.
RBC as administrative agent and Bank of Utah as collateral agent.
RBC Capital Markets and MUFG Bank as JLAs.
The loan will be secured by 11 narrowbody aircraft owned by Fly and its subsidiaries, four of which are unencumbered and seven of which are currently financed through a term loan Fly closed in 2012. The proceeds will be used for general corporate purposes.
