FLY Leasing set off a number of worries in the market this week after it withdrew its proposed term loan re-pricing citing “market conditions” as the reason. The lead arranger on the deal was Citigroup, which earlier this month 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 million B term
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