FLY Leasing Announces Final Results of Tender Offer

DUBLIN, Dec. 22, 2015 /PRNewswire/ — FLY Leasing Limited (NYSE: FLY) (“FLY”), a global leader in aircraft leasing, today announced the final results of its “modified Dutch auction” tender offer, which expired at 5:00 P.M., New York City time, on Wednesday, December 16, 2015. The tender offer was one component of FLY’s previously announced $100 million share repurchase program, which FLY intends to continue implementing through open market purchases or in privately negotiated transactions or otherwise, subject to market conditions.

Based on the final count by the tendering agent for the tender offer, FLY accepted for purchase approximately 5,376,344 of FLY’s common shares held in the form of American Depositary Shares (the “Shares”) at a purchase price of $13.95 per Share, for a total cost of approximately $75,000,000, excluding fees and expenses related to the tender offer. The repurchased Shares represent approximately 13.1% of FLY’s outstanding Shares as of December 21, 2015.

The tender offer was oversubscribed. Pursuant to the terms of the tender offer, Shares were accepted on a pro rata basis, except for tenders of odd lots, which were accepted in full. As such, FLY has determined that the proration factor for the tender offer, after giving effect to the priority of odd lots, is approximately 86.4%. The tendering agent will promptly pay for the Shares accepted for purchase and will return all other Shares tendered and not purchased.

Wells Fargo Securities, LLC served as the dealer manager for the tender offer. D.F. King & Co., Inc. served as information agent for the tender offer, and American Stock Transfer & Trust Company, LLC served as the tendering agent for the tender offer. Shareholders and investors who have questions or need assistance may call Wells Fargo Securities, LLC at (877) 450-7515 (toll-free) or (212) 214-6400 or D.F. King & Co., Inc. at (866) 406-2283 (toll-free).