Fly Leasing closes new US$180 million term loan

Fly Leasing (FLY), a global leader in aircraft leasing, has closed a new US$180 million term loan (the 2020 Term Loan). The interest rate on the five-year term loan is LIBOR plus 6.00% with a 1.00% LIBOR floor.

The financing was issued at an original issue discount of 4.5%. The 2020 Term Loan will be secured by 11 narrow-body aircraft owned by FLY and its subsidiaries, four of which are unencumbered and seven of which are currently financed in FLY’s 2012 Term Loan. The proceeds will be used for general corporate purposes.

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