On June 29, 2023, FTAI Infrastructure Inc. announced the pricing of its private offering of $100 million aggregate principal amount of 10.500% senior secured notes due 2027 (the Additional Notes). The Additional Notes will be issued at an issue price equal to 95.50% of principal, plus accrued interest from and including June 1, 2023. The Additional Notes are being offered as an additional issuance of the Company’s existing $500.0 million aggregate principal amount of 10.500% senior secured notes due 2027, initially issued on July 7, 2022 and July 25, 2022 (the Existing Notes).

The Additional Notes will be issued under the same indenture as the Existing Notes, will be treated as a single class of debt securities with the Existing Notes and have the same terms, other than the issue date and offering price. Like the Existing Notes, the Additional Notes are fully and unconditionally guaranteed on a senior basis by certain of the Company’s subsidiaries. The offering of the Additional Notes is expected to close on July 5, 2023, subject to satisfaction of customary closing conditions.