Fly Leasing upgraded to Outperform from Market Perform at Wells Fargo Wells Fargo upgraded Fly Leasing to Outperform following the company's Q1 results citing its "deep" pipeline of aircraft capex. Wells keeps a $17-$17.50 price target range for shares.
Fly Leasing re-prices $452M 2012 term loan FLY Leasing announced that it re-priced its 2012 Term Loan. The interest rate on the amended loan will be LIBOR plus 2.75%, a 0.75% reduction from the previous margin. In addition, the LIBOR floor will be reduced from 1.00% to 0.75%. As of December 31, 2014, the facility had an outstanding principal balance of $451.5 million and financed 29 aircraft. The transaction is anticipated to close before the end of April 2015, subject to customary closing conditions.