LAS VEGAS, August 10, 2022 /PRNewswire/ — Allegiant Travel Company (NASDAQ: ALGT ) (“the Company,” “we,” “us” or “our”) has commenced an offering of $500.0 million in aggregate principal amount of the senior secured notes due 2027 (the “Notes”) to investors in a private offering.
Each of the Company’s subsidiaries will guarantee the notes, other than Dustland, LLC, Sunseeker Resorts, Inc. and its subsidiaries and certain other minor subsidiaries. The notes and 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 existence of the Company $150.0 million 8,500% senior secured notes due 2024 and term loan B.
The Company will use the net proceeds from the sale of the Notes, together with cash on hand, to repay the Company’s B Term Loan, which has an outstanding principal amount of 533 million dollars.
The Notes and related warrants 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 related warrants are being offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act (“Rule 144A”) and to certain non-U.S. persons in transactions outside United States pursuant to Regulation S under the Securities Act.
Las Vegas(NASDAQ: ALGT)-based Allegiant is an integrated travel company with an airline at its heart, focused on connecting customers to the people, places and experiences that matter most. Since 1999, Allegiant Air has connected small- and mid-sized city travelers to world-class vacation destinations with all-inclusive nonstop flights and industry-low average fares. Today, Allegiant’s fleet serves communities across the country, with base fares 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.
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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 will not constitute an offer to sell or the solicitation of an offer to buy, or a sale of any securities in any jurisdiction contrary to applicable law.
SOURCE Allegiant Travel Company