Allegiant Travel (ALGT) to Offer $300M in Senior Notes

September 13, 2016 4:01 PM EDT

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Allegiant Travel Company (NASDAQ: ALGT) announced the proposed offering of $300 million aggregate principal amount of senior notes due 2023 (the "notes"). The interest rate, maturity and other terms of the notes will be determined at pricing. The public offering will be made pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission on June 13, 2014.

The notes being offered will be general unsecured senior obligations of the Company, guaranteed by all of the Company's wholly owned domestic subsidiaries, and will rank equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.

The Company intends to use the net proceeds for general corporate purposes including financing of capital expenditures such as aircraft acquisitions, pre-delivery deposits, purchase prices of twelve newly manufactured CFM powered A320 aircraft expected to be delivered in 2017 and 2018, share repurchases or repayment of indebtedness.

Morgan Stanley & Co. LLC is acting as the sole book-running manager for the offering of the notes.



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