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FTAI's Registered Offering of Series B Fixed‑to‑Floating Rate Preferred Shares

Cravath represented Fortress Transportation and Infrastructure Investors LLC (“FTAI”) in connection with its $115 million registered offering of series B fixed‑to‑floating rate preferred shares. FTAI, which is externally managed by an affiliate of Fortress Investment Group LLC, owns and acquires high‑quality infrastructure and equipment for the transportation of goods and people globally. The transaction closed on November 27, 2019.

The Cravath team includes partner Johnny G. Skumpija and associates Ryan J. Patrone and Daniel Lin on securities matters, and partners Andrew W. Needham and Christopher K. Fargo and senior attorney Andrew Carlon on tax matters. Shannon R. Kahlden also worked on securities matters and Kyle R. Jorstad also worked on tax matters.