Alaska Air Group (ALK) said late Tuesday it priced a private offering of $625 million of 5.021% senior secured notes due 2029 and $625 million of 5.308% senior secured notes due 2031, as well as a $750 million senior secured term loan B due 2031.
The notes offering size was increased to $1.25 billion from $750 million. The company expects to close the financings on or about Oct. 15.
The issuer plans to use the net proceeds to fund the reserve account for the notes and the loan facility, and to fund a collection account that will be used to make an intercompany loan to Alaska Airlines.
Price: 44.40, Change: -0.71, Percent Change: -1.57
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.