[ad_1]
Dublin and New York, August 2, 2021 /PRNewswire/ – Carlyle, a global investment company (NASDAQ:CG) And Fly Leasing Limited (New York Stock Exchange stock code:fly) (“FLY”) today announced that a subsidiary of Carlyle Aviation Partners (“Carlyle Aviation”) has completed the previously announced acquisition of FLY. Carlyle Aviation is the commercial aviation investment and services division of Carlyle $61 billion Global credit platform. After receiving regulatory approvals from all government agencies and FLY shareholders’ approvals required by the merger agreement, the transaction is completed. Carlyle Airlines used funds from its fifth aviation fund, SASOF V, for this acquisition.
In addition, FLY today announced the expiry and final result of the previously announced exchange (“Exchange Offer”) of the 5.250% senior notes (“old notes”) due in 2024 by Carlyle Aviation Elevate Merger Subsidiary Ltd. (“Elevate”). “)’S FLY’s newly issued 7.000% senior notes due in 2024 (“new notes”) and certain proposed amendments (“Proposed Amendments”) and certain proposed exemptions through enhanced consent (“Consent Solicitation”) (“Suggested Exemption” of the old bill (“Existing Denture”)) According to the exchange offer and consent solicitation statement, dated May 28, 2021 (“Exchange Offer and Consent Solicitation Statement” and accompanying qualification letter, “Offer Document”).
merge
According to the terms of the merger agreement, each ordinary share, par value 0.001 USD Per share, FLY (“shares”) that were issued and circulated before the effective date of the merger, including shares represented by American Depositary Shares (“ADS”), except for certain excluded shares (as described in FLY’s proxy statement) and Merger related), has been cancelled and converted to the right to obtain 17.05 USD Cash per share, no interest, and any required withholding tax can be deducted.
As of the effective time of the merger, holders of ADS records holding physical certificates of American Depositary Receipts (“ADRs”) will receive a letter of transmission and instructions on how to hand over their ADR certificates in exchange for the merger consideration (deduct any applicable Withholding tax). ADR holder…
The full story on Benzinga.com
[ad_2]
Source link
