UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported): September 22, 1999
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Commission File No. 0-18387
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PEGASUS AIRCRAFT PARTNERS II
A Delaware Limited Partnership
State of Organization: Delaware
IRS Employer Identification No. 84-1111757
Four Embarcadero Center, 35th Floor, San Francisco, California 94111
Telephone - (415) 434-3900
This document consists of 3 pages.
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Item 5. Other Events.
Increase in Line of Credit
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On September 22, 1999, Pegasus Aircraft Partners II (the "Partnership")
increased its line of credit from $12,500,000 to $19,000,000. The interest rate
is floating and was increased from 125 basis points ("BPs") over the bank's
prime lending rate to 150 BPs over the bank's prime lending rate. The line of
credit expiration has not changed and expires on December 31, 1999. Although
there can be no assurance of a successful conclusion, the Partnership is in
discussions with a different lender to replace the line of credit.
The increased line is to be used predominantly to fund the cost to convert the
aircraft to be leased to Kitty Hawk Aircargo, Inc. to a freighter configuration
and for working capital purposes.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PEGASUS AIRCRAFT PARTNERS II, L.P.
(Registrant)
By: Air Transport Leasing, Inc.
Administrative General Partner
October 1, 1999 By: /S/Clifford B. Wattley
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Clifford B. Wattley
President and Director
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