LAS VEGAS, Oct. 7, 2020 /PRNewswire/ -- Allegiant
Travel Company (NASDAQ: ALGT) (the "Company," "we," "us," or
"our") today closed its previously announced private offering and
issued $150.0 million in aggregate
principal amount of its 8.500% Senior Secured Notes due 2024 (the
"Notes"). Each of the Company's subsidiaries guarantee the
Notes, other than Sunseeker Resorts, Inc., its subsidiaries and
certain other insignificant subsidiaries. The Notes and the
related guarantees are 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 and
certain other assets. The collateral also secures the
Company's outstanding loan under the Credit and Guaranty Agreement,
dated as of February 5, 2019, among
the Company, as borrower, the Company's subsidiaries party thereto,
as guarantors, the lenders party thereto, and Barclays Bank PLC, as
administrative agent, syndication agent and lead arranger (as
amended, restated, supplemented, modified, renewed, refunded,
replaced or refinanced from time to time) (the "Term Loan"), on a
pari passu basis. The Notes and the related guarantees
rank pari passu with the Term Loan, which has an outstanding
principal amount of $543 million.
Combining the Notes with the balance on the Term Loan which bears a
floating interest rate, the Company has approximately $693 million in aggregate principal amount of
debt secured by this collateral with a weighted average interest
rate of approximately 4.5% at the current time. The Company will
use the net proceeds from the sale of the Notes for general
corporate purposes.
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 were 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.
Allegiant.®
Las Vegas-based Allegiant
(NASDAQ: ALGT) is an integrated travel company with an airline at
its heart, focused on connecting customers with premier leisure
experiences - from vacations to hometown family entertainment.
Since 1999, the airline 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
all-Airbus fleet serves communities across the nation, with base
airfares less than half the cost of the average domestic roundtrip
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
No Offer or Solicitation
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.
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SOURCE Allegiant Travel Company