ALLEGIANT TRAVEL COMPANY ANNOUNCES SECURE SENIOR TICKET OFFERING
LA VEGAS, August 10, 2022 /PRNewswire/ — Allegiant Travel Company (NASDAQ:ALGT) (the “Company”, “we”, “us” or “our”) has launched a $500.0 million in aggregate principal amount of senior secured notes due 2027 (the “Notes”) to investors under a private offering.
Each of the Company’s subsidiaries will guarantee the tickets, except for Dustland, LLC, Sunseeker Resorts, Inc. and its subsidiaries and certain other non-significant subsidiaries. The Notes and related security 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 estate and certain other assets. . The collateral that will secure the Notes currently secures the existing assets of the company $150.0 million 8.500% Senior Secured Bonds due 2024 and the Company’s Term Loan B.
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, the principal amount of which is $533 million.
The Notes and related collateral 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 related collateral are being offered and sold only to persons reasonably considered to be qualified institutional purchasers on the basis of Rule 144A under securities law (“Rule 144A”) and certain non-U.S. persons in the context of transactions outside of United States based on Regulation S under the Securities Act.
VegasAllegiant (NASDAQ:ALGT) is an integrated travel agency with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has connected travelers from small and mid-sized cities to world-class vacation destinations with nonstop flights and some of the lowest average fares in the industry. Today, Allegiant’s fleet serves communities across the country, with base airfares less than half the cost of an average domestic round-trip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF.
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No offer or solicitation
This press release is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and does not constitute an offer to sell or the solicitation of an offer to buy or a sale securities of any jurisdiction in violation of applicable law.
SOURCEAllegiant Travel Company