Allegiant Travel Commences $500M Debt Offering

Allegiant Travel Commences $500M Debt Offering
  • Allegiant Travel Co ALGT commenced an offering of $500 million of Senior Secured Notes due 2027 to investors in a private offering.
  • The company's subsidiaries will guarantee the Notes, other than Dustland, LLC, Sunseeker Resorts, Inc. and its subsidiaries, and certain other insignificant subsidiaries. 
  • The collateral that will secure the Notes currently secures the company's existing $150 million 8.500% Senior Secured Notes due 2024 and the company's Term Loan B.
  • Allegiant intends to use the net proceeds, together with cash on hand, to repay its Term Loan B, which has an outstanding principal amount of $533 million.
  • Price Action: ALGT shares are trading higher by 2.39% at $106.69 on the last check Wednesday.

Posted In: BriefsNewsOfferingsSmall Cap