Allegiant Travel withdraws proposed $300 million seven-year notes

By Wendy Van Sickle

Columbus, Ohio, Sept. 20 – Allegiant Travel Co. withdrew its proposed offering of $300 million of seven-year senior notes, citing “adverse market conditions” in a Tuesday evening news release.

The company said it “will continue to explore the raising of both secured and unsecured debt opportunistically when available on acceptable terms.”

As previously reported, Allegiant began a roadshow last week for the offering via bookrunner Morgan Stanley & Co. LLC.

The Las Vegas-based low-cost airline had planned to use the proceeds for general corporate purposes, including capital expenditures such as aircraft acquisitions, pre-delivery deposits, purchases of 12 newly manufactured CFM powered A320 aircraft expected to be delivered in 2017 and 2018, share repurchases and debt repayment.

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