DALLAS, Sept. 15, 2020 /PRNewswire/ -- Southwest
Airlines Co. (NYSE: LUV) (the "Company") today announced that
it will redeem all of its outstanding 2.650% Notes due 2020 (the
"Notes"). The aggregate principal amount outstanding of the Notes
is $500,000,000. The redemption price
for the Notes will be equal to 100% of the principal amount
thereof, plus accrued and unpaid interest, for a total payment to
holders of the Notes of approximately $505,521,000 in the aggregate. The redemption of
the Notes is scheduled to occur on October
5, 2020. The Company intends to fund the redemption with
cash on hand. On and after the redemption date, the Notes will no
longer be deemed outstanding, interest will cease to accrue
thereon, and all rights of the holders of the Notes will cease,
except for the right to receive the redemption price.
Wells Fargo Bank, N.A. is the trustee for the Notes and is
serving as the paying agent for this transaction. Copies of the
Notice of Redemption and additional information relating to the
redemption of the Notes may be obtained from Wells Fargo Bank,
N.A., Corporate Trust Operations, MAC
N9300-070, 600 South Fourth Street, 7th Floor,
Minneapolis, MN 55415, telephone:
1-800-344-5128.
About Southwest Airlines Co.
In its 50th year of service, Dallas-based Southwest Airlines Co. continues
to differentiate itself from other air carriers with exemplary
Customer Service delivered by more than 60,000 Employees to a
Customer base topping 130 million passengers in 2019. Southwest
became the nation's largest domestic air carrier in 2003 and
maintains that ranking based on the U.S. Department of
Transportation's most recent reporting of domestic originating
passengers boarded. In peak travel seasons during 2019, Southwest
operated more than 4,000 weekday departures among a network of 101
destinations in the United States
and 10 additional countries. In early 2020, the carrier added
service to Hilo, Hawaii, and
Cozumel, Mexico for a total of 103
airports served.
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SOURCE Southwest Airlines Co.