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ATA Holdings starts exchange offer for 9 5/8%, 10½% notes
New York, Aug. 29 - ATA Holdings Corp. launched an exchange offer and consent solicitation for its $175 million outstanding 10½% senior notes due 2004 and $125 million outstanding 9 5/8% senior notes due 2005.
The Indianapolis parent of ATA Airlines, Inc. said it is offering $940 principal amount of new 11% senior notes due 2009 and $60 cash for each $1,000 principal amount of the 10½% notes tendered and $960 principal amount of new 10 1/8% senior notes due 2010 and $40 cash for each $1,000 principal amount of 9 5/8% notes tendered. Both cash amounts include a $30 consent payment.
Holders will only receive the consent payment if they deliver consents by 5.00 p.m. ET on Sept. 12. The exchange expires at 5.00 p.m. ET on Sept. 26.
The exchange is conditional on at least 85% by principal amount of each series of the existing notes being tendered and the company receiving the consent of the Air Transportation Stabilization Board for its government-guaranteed term loan.
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