Loan & DebtJul 2, 2026, 04:14 PM
FTAI Infrastructure Subsidiary Secures $230M Bridge Loan
AI Summary
FTAI Infrastructure Inc.'s subsidiary, Jefferson 2020 Bond Borrower LLC, secured a $230.0 million bridge loan facility on July 1, 2026. The loan, maturing on June 30, 2027, carries an interest rate of Adjusted Term SOFR plus 5.50%, with periodic step-ups. The proceeds were primarily used to repay $217.87 million of outstanding Taxable Series 2024B Bonds and fund a debt service reserve account. The agreement includes customary covenants, mandatory prepayment provisions, and a minimum liquidity requirement.
Key Highlights
- Jefferson 2020 Bond Borrower LLC entered into a $230.0 million secured bridge loan facility.
- The bridge loan matures on June 30, 2027.
- Interest accrues at Adjusted Term SOFR Rate plus a 5.50% margin, stepping up by 0.50% every 90 days.
- Proceeds were used to repay $217.87 million Taxable Series 2024B Bonds.
- The loan is secured and requires repayment from asset sales, equity/debt issuances, and Excess Cash Flow.
- The borrower must maintain a minimum liquidity of $20.0 million.
Price Impact
More from FIP