Allegiant Travel talks $546.6 million term loan at Libor plus 300 bps

By Sara Rosenberg

New York, Feb. 4 – Allegiant Travel Co. launched on Tuesday its $100 million incremental first-lien term loan B due Feb. 5, 2024 and repricing of its existing $446.6 million first-lien term loan B due Feb. 5, 2024 with price talk of Libor plus 300 basis points with a 0% Libor floor, according to a market source.

The incremental term loan is talked with an original issue discount of 99.75 to par, the source said.

All of the term loan debt is getting 101 soft call protection for six months.

Barclays, Credit Agricole and Goldman Sachs Bank USA are the bookrunners on the deal. Barclays is the administrative agent.

Commitments are due at noon ET on Friday.

The repricing will take the existing term loan B down from Libor plus 450 bps.

Allegiant is a Las Vegas-based provider of affordable and convenient leisure travel.

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