FLY Leasing re-prices $395m Term Loan

FLY Leasing, a global lessor of modern commercial jet aircraft, has re-priced its $395m Term Loan. The interest rate on the amended loan will be LIBOR plus 4.50%, a 1.00% reduction from the previous interest rate of LIBOR plus 5.50%. In conjunction with the re-pricing, FLY Leasing will pay its current Term Loan lenders a one-time prepayment fee of 1.00% of the outstanding principal amount of $390m. The economic terms of the Term Loan are otherwise unchanged.