Preferred Stock Channel
Fortress Transportation & Infrastructure Investors LLC | 8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (FTAI.PRB)

Prospectus excerpt:  We are offering 4,000,000 of our 8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares, par value $0.01 per share, representing limited liability company interests in Fortress Transportation and Infrastructure Investors LLC (the “Series B Preferred Shares” or the “shares”). Distributions on the shares are cumulative from and including the date of original issue and will be payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, commencing March 15, 2020, in each case when, as, and if declared by our board of directors out of funds legally available for such purpose. An initial distribution on the shares will be payable on March 15, 2020 in an amount equal to approximately $0.60000 per share. Distributions based on the stated liquidation preference of $25.00 per share will be payable on the shares at a rate equal to (i) from and including the date of original issue to, but excluding, December 15, 2024, 8.00% per annum, and (ii) thereafter, an annual floating rate of the Three-Month LIBOR (as defined herein) plus a spread of 644.7 basis points per annum.

Full Prospectus PDF », FTAI Page »

Alternate symbology:FTAI-B, FTAI-PB, FTAIprB
Call Date:12/15/2024
Shares Offered:4,000,000
Liquidation Preference:$25
Recent Market Price:$18.99
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-6.01 (-24.04%)
Annualized Dividend:2
Recent Ex-Date:8/31/2020
Current Yield:10.53%
Original Coupon:8.00%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
Fortress Transportation and Infrastructure Investors is engaged in the acquiring, managing and disposing of transportation and transportation-related infrastructure and equipment assets. Co. invests across four market sectors in the transportation industry, including aviation, energy, intermodal transport and ports and terminals. Co.'s operations consist of two primary business units: Infrastructure and Equipment Leasing. Co.'s Infrastructure Business acquires long-lived assets that provide services or functions to transportation networks. Co.'s Equipment Leasing Business acquires assets that are designed to carry cargo or people or provide functionality to transportation infrastructure.

Preferreds: FTAI.PRA, FTAI.PRB

Open the FTAI Information Page »
Name:  Fortress Transportation & Infrastructure Investors LLC
Sector:  Air Services Other
Number of ETFs Holding FTAI:  1 (see which ones)
Total Market Value Held by ETFs:  $717,189
Total Market Capitalization:  $1,249,000,000
% of Market Cap. Held by ETFs:  0.06%

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