This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Macquarie Infrastructure Company Discloses No Performance Fee Payable For Fourth Quarter Of 2013

Macquarie Infrastructure Company (NYSE:MIC) announced that no performance fee is payable to its management company, Macquarie Infrastructure Management (USA) Inc. (“MIMUSA”), for the fourth quarter of 2013. Performance fees are payable when the total return for shareholders of MIC exceeds that of a benchmark index.

The average closing value of the MIC accumulation index for the last 15 trading days of the fourth quarter was approximately 0.5% below the average closing of the accumulation index for the 15 trading days ended September 30, 2013. Based on the Management Services Agreement (“MSA”) between MIC and MIMUSA, the underperformance will be carried forward and must be exceeded in a future period before any performance fee can be paid.

MIC also announced that its Atlantic Aviation business has launched an upsizing of its Term Loan B facility in connection with its previously announced acquisition of a portfolio of fixed base operations from Galaxy Aviation. The terms of the $100 million upsizing are expected to be the same as those of the business’ current Term Loan B facility. The offering is expected to be completed at the end of the week of January 13, subject to market and other conditions.

In conjunction with the debt offering, MIC noted that Atlantic Aviation is expected to generate EBITDA for the full year 2013 that is at the top end of the Company’s guidance. Management had previously indicated that Atlantic Aviation was expected to generate EBITDA in a range of between $137 million and $145 million for the year.

MIC expects to publish its financial results for the fourth quarter and full year 2013 after the close of the markets on February 19, 2014. A conference call during which management is expected to discuss the 2013 results and the Company’s prospects for 2014 will be conducted the morning of February 20, 2014. Details of the conference call including dial-in numbers will be published in a separate press release.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs