FTAI Aviation announces public offering

Jet engine business FTAI Aviation has announced a registered underwritten public offering, giving details of a fixed-rate reset series D cumulative perpetual redeemable preferred shares with a liquidation preference of $25 per share. FTAI said it “intends to apply to list the preferred shares on the Nasdaq Global Select Market and expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of the preferred shares being offered to cover any over-allotments. FTAI said it plans to use the net proceeds from the sale of the shares “for general corporate purposes”. Morgan Stanley, Citigroup, J.P.