On August 9, 2012, Fly Leasing entered into a $395.0 million senior secured term loan with a consortium of lenders. On November 21, 2013, the loan that had a balance of approximately $375 million as of September 30, 2013, was upsized by $105 million.
The maturity on the Term Loan was extended by one year from August 2018 to August 2019 and the maximum Loan-to-Value (“LTV”) was increased from 67.5% to 70.0%.
