Published on 9/30/2020 in the Prospect News High Yield Daily.
New Issue: Allegiant Travel sells $150 million 8½% secured notes due 2024 at par to yield 8.465%
By Paul A. Harris
Portland, Ore., Sept. 30 – Allegiant Travel Co. priced a $150 million issue of 8½% senior secured bullet notes due Feb. 5, 2024 at par to yield 8.465% on Wednesday, according to a market source.
Bookrunner Barclays will bill and deliver.
The Las Vegas-based travel and hospitality company plans to use the proceeds for general corporate purposes.
| Issuer: | Allegiant Travel Co.
|
| Amount: | $150 million
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| Maturity: | Feb. 5, 2024
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| Securities: | Senior secured notes
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| Bookrunner: | Barclays (bill and deliver)
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| Coupon: | 8½%
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| Price: | Par
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| Yield: | 8.465%
|
| Spread: | 833 bps
|
| Call protection: | Par call six months prior to maturity, otherwise non-callable
|
| Trade date: | Sept. 30
|
| Settlement date: | Oct. 7
|
| Distribution: | Rule 144A and Regulation S
|
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