Fortress Transportation and Infrastructure Investors LLC Announces Amendment to Credit Agreement Facility
Source: Nasdaq GlobeNewswire / 11 Feb 2019 06:50:14 America/New_York
NEW YORK, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI; the "Company") announced today the signing of an Amendment (the “Amendment”) to an Existing Credit Agreement (the “Existing Credit Agreement”) with JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., and Barclays Bank PLC as lenders and issuing banks, and JPMorgan Chase Bank, N.A. as administrative agent (the Existing Credit Agreement, as amended by the Amendment, the “Amended Credit Agreement”).
The Amendment increases the aggregate revolving commitments under the Existing Credit Agreement from $125 million to $250 million, and extends the maturity date of the revolving loans and commitments to January 31, 2022. The loans under the Amended Credit Agreement also makes certain modifications to the financial covenants under the Existing Credit Agreement.
The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Amendment. The Company has filed or will file an 8-K with the Securities and Exchange Commission with more complete information about the Amended Credit Agreement.
About Fortress Transportation and Infrastructure Investors LLC
Fortress Transportation and Infrastructure Investors LLC (“FTAI”) owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.
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Fortress Transportation and Infrastructure Investors LLC