FLY Leasing pulls term loan re-pricing

FLY Leasing set off a number of worries in the market after it withdrew its proposed term loan re-pricing citing “market conditions” as the reason. As reported by S&Ps Leveraged Commentary & Data news service, the lead arranger on the deal, Citigroup, was looking at a price range of L+350-375bps, with a 1.25% LIBOR floor and a par offer price. The issuer also offered to refresh the 101 soft call premium for one year. Existing lenders would have been repaid at 101. This was moved from the December range of L+450bps, with a 1.25% LIBOR floor. FLY placed the $395