HONOLULU, Jan. 28, 2021 /PRNewswire/ -- Hawaiian Airlines,
Inc. (the "Company"), a wholly-owned subsidiary of Hawaiian
Holdings, Inc. (Nasdaq: HA), today announced the pricing and
upsizing of the previously announced unregistered offering by
Hawaiian Brand Intellectual Property, Ltd. (the "Brand Issuer") and
HawaiianMiles Loyalty, Ltd., (the "Loyalty Issuer" and, together
with the Brand Issuer, the "Issuers"), each an indirect
wholly-owned subsidiary of the Company.
The Issuers are expected to issue an aggregate of $1.2 billion in principal amount of 5.75% Senior
Secured Notes due 2026 (the "Notes") on February 4, 2021, subject to customary closing
conditions. The offering was upsized to $1.2
billion from the originally announced aggregate principal
amount of $800 million.
The Notes will be offered and sold only to persons reasonably
believed to be qualified institutional buyers, as defined in, and
in reliance on Rule 144A under the Securities Act of 1933, as
amended (the "Securities Act") and to non-U.S. persons in offshore
transactions outside the United
States in reliance on Regulation S under the Securities
Act. The Notes will not be registered under the Securities
Act or any other securities laws of any jurisdiction and will not
have the benefit of any exchange offer or other registration
rights. The Notes may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the Notes nor shall there be
any sale of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful. This news release is being
issued pursuant to and in accordance with Rule 135c under the
Securities Act.
About Hawaiian Airlines
Hawaiian Airlines, Inc. is a subsidiary of Hawaiian Holdings,
Inc. (NASDAQ: HA). Additional information is available at
HawaiianAirlines.com. Follow Hawaiian's Twitter updates
(@HawaiianAir), become a fan on Facebook (Hawaiian Airlines), and
follow us on Instagram (hawaiianairlines). For career postings and
updates, follow Hawaiian's LinkedIn page.
For media inquiries, please visit Hawaiian Airlines' online
newsroom.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that reflect the Company's current views with respect to certain
current and future events and financial performance. Such
forward-looking statements include, without limitation, the
Company's business plans, the offering of the Notes, and statements
as to other matters that do not relate strictly to historical facts
or statements of assumptions underlying any of the foregoing.
Words such as "expects," "anticipates," "projects," "intends,"
"plans," "believes," "estimates," variations of such words, and
similar expressions are also intended to identify such
forward-looking statements. These forward-looking statements
are and will be subject to many risks, uncertainties and
assumptions relating to the Company's operations and business
environment, all of which may cause the Company's actual results to
be materially different from any future results, expressed or
implied, in these forward-looking statements. These risks and
uncertainties include, without limitation, the continuing and
developing effects of the spread of COVID-19 on the Company's
business operations and financial condition; whether the Company's
cost-cutting plans related to the COVID-19 pandemic will be
effective or sufficient; the duration of government-mandated and
other restrictions on travel; the full effect that the quarantine,
restrictions on travel and other measures to limit the spread of
COVID-19 will have on demand for air travel in the markets in which
the Company operates; fluctuations and the extent of declining
demand for air transportation in the markets in which the Company
operates; the Company's dependence on the tourism industry; the
Company's ability to generate sufficient cash and manage its
available cash; the Company's ability to accurately forecast
economic volatility; macroeconomic developments; political
developments; the price and availability of aircraft fuel; labor
negotiations; regulatory determinations and related developments;
competitive pressures, including the impact of industry capacity
between North America and Hawai'i
and interisland; changes in the Company's future capital needs; and
foreign currency exchange rate fluctuations.
The risks, uncertainties and assumptions referred to above that
could cause the Company's results to differ materially from the
results expressed or implied by such forward-looking statements
also include the risks, uncertainties and assumptions discussed
from time to time in the Company's other public filings and public
announcements, including the Company's Annual Report on Form 10-K
and the Company's Quarterly Reports on Form 10-Q, as well as other
documents that may be filed by the Company from time to time with
the Securities and Exchange Commission. All forward-looking
statements included in this document are based on information
available to the Company on the date hereof. The Company does
not undertake to publicly update or revise any forward-looking
statements to reflect events or circumstances that may arise after
the date hereof even if experience or future changes make it clear
that any projected results expressed or implied herein will not be
realized.
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SOURCE Hawaiian Airlines, Inc.