By Paul A. Harris
Portland, Ore., June 20 – Allegiant Travel Co. priced a $300 million issue of non-callable five-year senior notes (B1/BB-/) at par to yield 5½% on Friday, according to a market source.
The yield printed at the tight end of yield talk in the 5 5/8% area.
Goldman Sachs & Co. was the bookrunner.
The Las Vegas-based low-cost airline plans to use the proceeds to pay for ownership interests in the special purpose companies owning the 12 Airbus A320 series aircraft on lease to a European carrier currently under contract and, along with cash on hand, for the purchase of 11 Airbus A320 series aircraft under contract or letter of intent for purchase during 2014 and 2015.
| Issuer: | Allegiant Travel Co.
|
| Amount: | $300 million
|
| Maturity: | July 15, 2019
|
| Securities: | Senior notes
|
| Bookrunner: | Goldman Sachs & Co.
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Call protection: | Non-callable
|
| Trade date: | June 20
|
| Settlement date: | June 25
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: BB-
|
| Distribution: | SEC registered
|
| Price talk: | 5 5/8% area
|
| Marketing: | Roadshow
|
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