FTAI Infrastructure Finalizes $1 Billion Refinancing Transactions through Long Ridge Energy

FTAI Infrastructure Inc. announced on February 19, 2025 that Long Ridge Energy LLC—a subsidiary of Long Ridge Energy & Power LLC and an equity method investment within the Company’s Power and Gas segment—successfully completed two refinancing transactions totaling approximately $1 billion.

The refinancing package includes $400 million in New Term Loans with interest set at SOFR plus 4.50% per annum maturing on February 19, 2032, and a private offering of $600 million aggregate principal amount of 8.750% senior secured notes due 2032. Net proceeds from these transactions were applied to repay fully the Company’s existing loans amounting to approximately $599 million, along with funding reserve and capital accounts, derivative contract activities, and other corporate purposes.

Under the terms of the new Credit Agreement executed on the same day, Long Ridge borrowed the $400 million in senior secured term loans, which—like the Notes—are supported by a first-priority lien on a broad pool of assets. The Notes, which bear interest payable semi-annually on February 15 and August 15, 2025 and thereafter, are fully guaranteed by Long Ridge’s subsidiary entities. In addition to the standard features such as mandatory prepayment provisions and a cash flow sweep, the Indenture governing the Notes imposes certain restrictions on the incurrence of additional indebtedness and other key financial and operational actions.

As part of the refinancing, Long Ridge also provided forward-looking targets with annual revenue projections of approximately $223 million and Adjusted EBITDA of around $160 million. These estimates are based on several operational assumptions, including anticipated power plant capacity utilization and expected market conditions for electricity and natural gas sales. The Company cautioned that actual outcomes may vary materially from these expectations due to a number of inherent risks.

Also included in the filing was Exhibit 99.1, which presents unaudited quarterly data detailing revenue, gross profit, gross profit margins, and operating income (loss) by reportable segment for the Automation Enabling Technologies and Medical Solutions businesses over several quarters spanning from March 2023 through December 2024. The exhibit provides investors additional insight into historical performance metrics for the segments, which form part of FTAI Infrastructure’s diversified portfolio.

Forward-looking statements in the report are subject to a number of risks and uncertainties, including potential deviations in operating results, market price fluctuations for energy commodities, regulatory changes, and other factors that may impact the Company’s financial condition and results from its operations.

The refinancing represents a strategic effort to streamline the Company’s balance sheet, reduce existing debt obligations, and position its Power and Gas segment for future growth amid evolving market conditions.

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.

FTAI Infrastructure Company Profile

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.