Allegiant Travel to price $250 million seven-year notes May 24 week

By Paul A. Harris

St. Louis, May 18 - Allegiant Travel Co. will host an investor call at 10:30 a.m. ET on Wednesday for its $250 million offering of seven-year senior unsecured notes, according to an informed source.

The deal is expected to price during the May 24 week.

Morgan Stanley & Co. Inc. has the books for the Rule 144A and Regulation S with registration rights offering.

Citadel Securities is the lead manager. UBS Investment Bank is the co-manager.

The notes come with three years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to pay the balance of the purchase price and induction costs for the MD 80 and Boeing 757 aircraft under contract and to make principal payments on existing debt payable in 2010 and 2011. Remaining proceeds will be used for other asset acquisitions, for mergers or acquisitions, and for general corporate purposes.

The prospective issuer is a Las Vegas-based leisure travel company.

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