Allegiant Travel enters seven-year $75 million secured revolver

By Wendy Van Sickle

Columbus, Ohio, Oct. 4 – Allegiant Travel Co., through a wholly owned subsidiary, entered into a senior secured revolving credit facility under which it will be able to borrow up to $75 million, according to an 8-K filing with the Securities and Exchange Commission.

On Sept. 28, the borrower drew $55.5 million of the revolver, which is secured by three Airbus A320 series aircraft.

The note bears interest at a floating rate based on Libor and will be payable in quarterly installments through September 2025.

The company intends to draw down the remaining $19.5 million during October, to be secured by one additional A320 series aircraft.

Proceeds will be used for general corporate purposes.

The low-cost airline is based in Las Vegas.

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