Fortress Transportation and Infrastructure to Sell New Preferred

In what seems like a rush to sell new preferreds and baby bonds before interest rates move higher Fortress Transportation and Infrastructure (FTAI) has announced they will be selling a fixed-rate reset preferred.

The distributions will be cumulative but not qualified for preferential tax treatment as they are a LLC.

FTAI intends to use the proceeds for ‘general corporate purposes’.

The company has a couple other issues currently outstanding which you can see here. Both issues are high yield fixed-to-floating rate.

The preliminary prospectus can be read here.

EarlyBird was early on this one.

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