News Column

Intrepid Aviation Announces the Pricing and Increase in Amount of a Private Offering of $215 Million of Senior Unsecured Notes

August 30, 2014

By a News Reporter-Staff News Editor at Journal of Transportation -- Intrepid Aviation Group Holdings, LLC ("Intrepid") announced that it has priced and increased its offering (the "Offering") from $150 million to an additional $215 million in aggregate principal amount of senior notes due 2019 (the "Notes"). The Notes will be issued as additional notes under the indenture governing the outstanding $300 million in aggregate principal amount of 6.875% senior notes due 2019 that were issued on January 29, 2014. The Notes will be co-issued by Intrepid's wholly-owned subsidiary, Intrepid Finance Co.

The Notes will bear interest at a rate of 6.875% per year and were priced at 102% of their principal amount, plus accrued interest from August 15, 2014. Intrepid intends to use the net proceeds of the Offering for general corporate purposes, including the purchase of aircraft, both for current forward orders and for future growth.

The Notes will be senior unsecured obligations of Intrepid and Intrepid Finance Co. The Offering is subject to customary conditions, and there can be no assurances that the Offering will be consummated.

The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. As a result, they may not be offered or sold in the United States or to any U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States under Regulation S under the Securities Act.

Keywords for this news article include: Intrepid Aviation Group Holdings LLC.

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Source: Journal of Transportation

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