LAS
VEGAS, Aug. 10, 2022 /PRNewswire/ -- Allegiant
Travel Company (NASDAQ: ALGT) (the "Company," "we," "us," or "our")
has agreed to sell $550.0 million in
aggregate principal amount of its 7.250% Senior Secured Notes due
2027 (the "Notes") at an offering price of 99.486% of their
principal amount to investors in a private offering. The size of
the offering was increased by $50
million from the previously announced offering size of
$500 million. The Notes are expected
to be issued on August 17, 2022,
subject to customary closing conditions.
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 $150.0 million
8.500% Senior Secured Notes due 2024 and the Company's Term Loan
B.
The Company will use the net proceeds from the sale of the Notes
to repay the Company's Term Loan B, which has an outstanding
principal amount of $533 million, and
to pay costs and expenses of the transaction.
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.
Allegiant.®
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
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/allegiant-travel-company-prices-upsized-550-million-offering-of-senior-secured-notes-301603913.html
SOURCE Allegiant Travel Company