FTAI Infrastructure entered into a Bridge Loan Credit Agreement to establish a secured $230 million bridge facility. Proceeds refinanced the Port of Beaumont Taxable Series 2024B bonds, funded a debt service reserve, and covered transaction costs. The loan bears interest at Adjusted Term SOFR plus 5.50%, stepping up 0.50% every 90 days, and matures June 30, 2027. It includes mandatory prepayments from asset sales, equity or debt proceeds, and excess cash flow, along with a $20 million minimum liquidity covenant.
Agreement details:
- Agreement type: Secured bridge loan facility ($230 million)
- Counterparty: Jefferies Finance, as Administrative Agent, and other lenders
- Signed / Effective: Jul 01 2026 / Jul 01 2026
- Duration / Termination: Through Jun 30 2027
- Reason: Refinance 2024B bonds and bolster liquidity
Original SEC Filing:
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