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FLY Leasing closes senior notes offering

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FLY Leasing closes senior notes offering

FLY Leasing Ltd. closed its offering of $300 million of its 5.250% senior notes due 2024.

The net proceeds were roughly $294.2 million, after deducting the underwriters' discounts and commissions and offering expenses payable by the company. The company intends to use the net proceeds from the sale of the notes, together with cash on hand, to redeem its outstanding 6.75% senior notes due 2020.

Interest on the notes is payable semiannually on April 15 and Oct. 15, beginning April 15, 2018.