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Allegiant Travel to launch $450 million term loan B on Monday
By Sara Rosenberg
New York, Jan. 9 – Allegiant Travel Co. is set to hold a bank meeting at 10 a.m. ET on Monday to launch a $450 million five-year senior secured term loan B, according to a market source.
Barclays is the lead arranger on the deal and the administrative agent.
Proceeds will be used to refinance the company’s existing 5.5% senior notes due 2019.
Pro forma gross total leverage is 3.6 times and net total leverage is 2.3 times, the source added.
Allegiant is a Las Vegas-based operator of a passenger airline marketed to leisure travelers in small cities.
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