News Column

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

August 8, 2014



STAMFORD, Conn.--(BUSINESS WIRE)-- Intrepid Aviation Group Holdings, LLC (“Intrepid”) today 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.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

SAFE HARBOR FOR FORWARD-LOOKING AND CAUTIONARY STATEMENTS

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements involve uncertainties, risks and assumptions, since these statements include information concerning Intrepid’s possible or assumed future results, business strategies, financing plans and potential growth opportunities. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “would,” “could,” “seeks,” “plans,” “scheduled,” “assumes,” “predicts,” “contemplates,” “continue,” “anticipates” or “intends” or, in each case, their negative, or other variations and similar expressions. Forward-looking statements speak only as of the date they were made, and, except to the extent required by law, Intrepid undertakes no obligation to update publicly or to revise any forward-looking statements because of new information, future events or other factors. In light of the risks and uncertainties described above, the forward-looking events and circumstances discussed herein might not occur and are not guarantees of future performance. Intrepid’s future results and performance may differ materially from those expressed in its forward-looking statements.

ABOUT INTREPID AVIATION

Intrepid Aviation is a global leasing company that acquires and leases commercial passenger aircraft to airline operators worldwide. Intrepid Aviation focuses primarily on twin engine widebody commercial passenger aircraft such as the Boeing 777, Boeing 787, Airbus A330 and Airbus A350 aircraft.

ABOUT INTREPID AVIATION’S SHAREHOLDERS, RESERVOIR CAPITAL AND CENTERBRIDGE PARTNERS

Reservoir Capital Group L.L.C. was established in 1998 as a privately held investment firm with a flexible, opportunistic investment approach and has approximately $7.0 billion in assets under management. – Centerbridge Partners, L.P. is a private investment firm headquartered in New York City with approximately $20 billion in capital under management.



Intrepid Aviation Group Holdings, LLC

Michael Lungariello, +1-203-905-4220

Source: Intrepid Aviation Group Holdings, LLC


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