FLY Leasing extends loan facility

FLY Leasing has entered into an agreement to amend and extend its BOS Facility, a limited recourse debt facility. At September 30, 2013, the facility had a balance of $209 million secured by nine aircraft. The amended facility will provide loans to FLY subsidiaries secured by seven aircraft, with six loans maturing in seven years and one in six years. The facility will be guaranteed by FLY. The two remaining aircraft are expected to be sold in the first quarter of 2014. In connection with the transaction, the lenders will extinguish approximately $35 million of debt and FLY will contribute