FIP · FTAI Infrastructure Inc.

On July 1, 2026, FTAI Infrastructure Inc.'s wholly owned subsidiary, Jefferson 2020 Bond Borrower LLC, executed a Bridge Loan Credit Agreement with Jefferies Finance LLC as administrative agent and initial lender. The facility provides $230 million in secured bridge financing, maturing on June 30, 2027. The proceeds were applied to refinance the existing Taxable Series 2024B Bonds in full ($217.87 million), fund a $20 million debt service reserve account, and cover transaction costs. Interest accrues at Adjusted Term SOFR plus 5.50% per annum, with the margin increasing by 50 basis points every 90 days, incentivizing early repayment. The agreement includes mandatory prepayment provisions tied to asset sales, recovery events, equity or debt issuances, and excess cash flow sweeps. The borrower must maintain minimum liquidity of $20 million and is subject to standard negative covenants restricting additional debt, distributions, investments, and liens. The obligations are secured as ‘Permitted Additional Senior Indebtedness’ under the existing collateral structure. This refinancing replaces high-cost bond debt with a shorter-term bridge loan, providing the borrower with financial flexibility but also introducing near-term repayment obligations and step-up interest costs. The transaction is material as it restructures over $217 million of the company's borrowing and establishes new financial covenants.