Fly Leasing To Raise $160m In IPO

Fly Leasing plans to raise up to $160m by selling an undisclosed number of its shares. The global jet lessor will sell common American depositary shares (ADS) under an initial public offering (IPO), the proceeds of which will be used to buy aircraft. Fly will also grant the underwriters the option to purchase up to an additional $24m of ADS. Morgan Stanley, Citigroup, Deutsche Bank Securities and RBC Capital Markets are acting as book-running managers.

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