Allegiant Travel sets $100 million incremental term loan at par price

By Sara Rosenberg

New York, Feb. 10 – Allegiant Travel Co. firmed the issue price on its $100 million incremental first-lien term loan B due Feb. 5, 2024 at par, the tight end of the 99.75 to par talk, according to a market source.

Pricing on the incremental loan and repricing of the company’s existing $445.5 million first-lien term loan B due Feb. 5, 2024 remained at Libor plus 300 basis points with a 0% Libor floor.

All of the term loan debt (Ba3) 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.

Proceeds from the incremental term loan will be used to repay revolving credit facility borrowings and for general corporate purposes, and 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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