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Hamilton, Bermuda: 25 September 2023 – In a filing with the Bermuda Stock Exchange (“BSX”), Fly Leasing Limited, advises of note repurchase authorization. The full filing stated:
Fly Leasing Limited
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7.000% Senior Notes due October 15, 2024 (“Notes”)
Listed Since: 2021/08/18
Currency: USD
CUSIP: G2002C AA8 ISIN: USG2002CAA83
Telephone: 353-1-231-1900
www.flyleasing.com
Hamilton, Bermuda – 25 September 2023
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Note Repurchase Authorisation
On September 22, 2023, the board of directors of Fly Leasing Limited (“Fly”) authorised the repurchase of up to US$50 million of its 7.000% Senior Notes Due 2024 (the “Notes”), representing a maximum of approximately 20.7% of the aggregate principal amount of Notes that remain outstanding. The principal amount of Notes outstanding as of September 22, 2023 is $241,446,000.
Notes will be purchased subject to market conditions, and may be purchased in open market transactions, pursuant to bilateral trades or 10b5-1 purchase programs. All Notes repurchased in relation to this announcement will be executed in accordance with the relevant regulations of the Bermuda Stock Exchange (the “BSX”), including, but not limited to, the BSX Listing Regulations – Section IIIB (the “Listing Rules”). At such point as Fly has repurchased, in aggregate, 10% or more of outstanding amount of the Notes in accordance with the Listing Rules, Fly will announce such repurchase no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred.
Pursuant to a previously announced authorisation of the board of directors of Fly in December 2022, during 2023 Fly already has purchased and cancelled $50,000,000 in principal amount of Notes.
This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.
Forward-Looking Statements:
Certain statements and indicative projections (which may include modelled loss scenarios) made in this announcement or otherwise that are not based on current or historical facts are forward-looking in nature including, without limitation, statements containing the words “believes”, “anticipates”, “aims”, “plans”, “projects”, “forecasts”, “guidance”, “intends”, “expects”, “estimates”, “predicts”, “may”, “can”, “likely”, “will”, “seeks”, “should”, or, in each case, their negative or comparable terminology.
All forward-looking statements in this announcement speak only as at the date of publication. Fly expressly disclaims any obligation or undertaking (save as required to comply with any legal or regulatory obligations including the rules of the BSX) to disseminate any updates or revisions to any forward-looking statement to reflect any changes in Fly’s expectations or circumstances on which any such statement is based. All subsequent written and oral forward-looking statements attributable to Fly or individuals
acting on behalf of Fly are expressly qualified in their entirety by this note. Prospective investors should specifically consider the factors identified in this announcement which could cause actual results to differ before making an investment decision.
Media contacts:
Kristen Greco
(212) 813-4763
kristen.greco@carlyle.com
The Carlyle Group
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