FTAI Infrastructure (NASDAQ:FIP) Announces Plans for Refinancing of Existing Loans and New Term Loan

On November 25, 2024, FTAI Infrastructure Inc. (FIP) subsidiary of Long Ridge Energy & Power LLC, an equity method investee within the Power and Gas segment, disclosed its intention to market the refinancing of existing loans with the proceeds of a new senior secured term loan. The subsidiary plans to utilize the net proceeds from the new term loan for various purposes, including refinancing outstanding loans, funding termination costs related to specific electricity sale derivative contracts, and covering transaction fees and expenses associated with the new term loan.

Long Ridge Energy & Power LLC aims to achieve annual revenues of around $226 million and Adjusted EBITDA of approximately $160 million subsequent to the aforementioned transactions. These targets are contingent on several assumptions, such as the operational capacity of Long Ridge’s power plant, specific electricity sale derivative contract terms, gas production and pricing, as well as operational expenses. The company cautions that while these targets have been set, actual results may vary significantly.

The information highlighted in this Form 8-K report is being furnished for Regulation FD Disclosure and is not filed for purposes of Section 18 of the Exchange Act. Long Ridge Energy & Power LLC refrains from providing forward-looking guidance for U.S. GAAP reported financial measures due to uncertainties around significant items like derivative instruments, interest expense, and income taxes, which could impact reported results.

Cautionary Language Regarding Forward-Looking Statements:

FTAI Infrastructure warns about the existence of forward-looking statements within the document, including expectations, plans, and intended results regarding FIP and Long Ridge. Risks and uncertainties related to completing the new term loan, derivative transactions, obligations under definitive documents, market conditions, and competitive landscape should be duly noted. FIP emphasizes that such statements are subject to numerous uncertainties and other factors, urging readers to consider potential risk factors outlined in the SEC filings.

The company encourages a thorough review of its filings with the SEC, which include the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K for more in-depth insight into the financial landscape and projections.

The signature of Chief Executive Officer and President Kenneth J. Nicholson authenticated the report on behalf of FTAI Infrastructure Inc., as of November 25, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FTAI Infrastructure’s 8K filing here.

About FTAI Infrastructure

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.