ALLEGIANT TRAVEL COMPANY ANNOUNCES OFFERING OF SENIOR SECURED NOTES
On August 10, 2022, Allegiant Travel Company (NASDAQ: ALGT) announced a private offering of $500 million in Senior Secured Notes due 2027. The offering will be guaranteed by the company's subsidiaries, excluding certain insignificant ones. The proceeds will be used to repay a $533 million Term Loan B. The Notes are secured by substantial assets, excluding aircraft and certain properties. This offering is not registered under the Securities Act and is aimed at qualified institutional buyers and certain non-U.S. persons.
- The offering of $500 million in Senior Secured Notes supports debt repayment.
- The collateral for the Notes includes significant company assets, enhancing security.
- The company has a significant debt of $533 million from Term Loan B, indicating potential financial strain.
LAS VEGAS, Aug. 10, 2022 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) (the "Company," "we," "us," or "our") has commenced an offering of
Each of the Company's subsidiaries will guarantee the Notes, other than Dustland, LLC, Sunseeker Resorts, Inc. and its subsidiaries and certain other insignificant subsidiaries. The Notes and the related guarantees will be secured by security interests in substantially all of the property and assets of the Company and the guarantors of the Notes, excluding aircraft, aircraft engines, real property and certain other assets. The collateral that will secure the Notes currently secures the Company's existing
The Company will use the net proceeds from the sale of the Notes, together with cash on hand, to repay the Company's Term Loan B, which has an outstanding principal amount of
The Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. The Notes and the related guarantees are being offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act ("Rule 144A") and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's fleet serves communities across the nation, with base airfares less than half the cost of the average domestic round-trip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF.
Media Inquiries: mediarelations@allegiantair.com
Investor Inquiries: ir@allegiantair.com
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, any securities in any jurisdiction in contravention of applicable law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/allegiant-travel-company-announces-offering-of-senior-secured-notes-301603489.html
SOURCE Allegiant Travel Company
FAQ
What is the purpose of Allegiant's $500 million Senior Secured Notes offering?
Who guarantees the Senior Secured Notes issued by Allegiant?
When are Allegiant's Senior Secured Notes due?
What is the principal amount of Allegiant's new Senior Secured Notes?
Are Allegiant's Senior Secured Notes registered under the Securities Act?
