Allegiant Travel enters $100 million three-year secured revolver

By Marisa Wong

Los Angeles, Feb. 7 – Allegiant Travel Co., through a wholly owned subsidiary, entered into a new senior secured revolving credit facility on Feb. 1, according to an 8-K filing with the Securities and Exchange Commission.

Under the facility, the company will be able to borrow up to $100 million based on the value of new and used aircraft and engines which it may choose to place in the collateral pool.

The facility has a term of 36 months, and once placed in the facility those aircraft and engines may remain in the facility for the duration of the term at the company’s discretion.

The revolver bears interest at a floating rate based on SOFR.

Proceeds from any drawdowns will be used for general corporate purposes.

There is no balance on the credit facility currently.

The facility will replace the revolver with the same lender that is set to expire in March.

Allegiant is a Las Vegas-based travel and hospitality company.

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