Allegiant Travel discontinues $250 million note offering due to adverse market conditions

By Paul A. Harris

St. Louis, May 24 - Allegiant Travel Co. discontinued its $250 million offering of senior unsecured notes due to adverse market conditions, according to a press release issued on Monday.

Morgan Stanley & Co. Inc. had the books.

Proceeds were to 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 were to be used for other asset acquisitions, for mergers or acquisitions, and for general corporate purposes.

Allegiant is a Las Vegas-based leisure travel company.

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