Fortress Transportation and Infrastructure Prices Preferred

Fortress Transportation and Infrastructure (FTAI) priced their previously announced fixed to floating preferred stock with an initial fixed rate of 8%. The issue will float starting in 2024.

The company is a partnership and as such it will issue a K-1 at tax time. As a partnership it will not pay a qualified distribution.

The pricing term sheet can be read here.

2 thoughts on “Fortress Transportation and Infrastructure Prices Preferred”

  1. No comments about this issue? No much interest? I thought I had time to get some below par but it started quite strongly. I favored AXQEL but as usually happens these days playing conservatively doesn’t pay. AXA still below par while Fortress @$25.20.

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