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.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsOfferingsSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!