Allegiant Travel completed a $650.0 million issuance of 7.125% Senior Secured Notes due 2031 to refinance near-term debt and strengthen liquidity. The company used proceeds to purchase $377.5 million of its 7.25% notes due 2027 and expects to redeem the remaining $25.5 million in Q3 2026, with the balance for general corporate purposes. The new notes are secured by first-priority liens on substantially all non-aircraft collateral and include a $300 million minimum liquidity covenant. Allegiant also amended the 2027 notes indenture to streamline covenants and shorten redemption notice, and updated its undrawn $150 million revolving credit agreement to align covenants with the new Indenture.
Agreement 1: Allegiant Travel Raises $650 Million in 7.125% Senior Secured Notes Due 2031
- Agreement type: Indenture governing 7.125% Senior Secured Notes due 2031
- Counterparty: Wilmington Trust, as trustee and collateral agent
- Signed / Effective: Jun 24 2026 / same
- Duration / Termination: Until Jul 01 2031
- Reason: Refinance 2027 notes and bolster liquidity
Agreement 2: Allegiant Travel Amends 2027 Notes Indenture to Ease Covenants and Enable Faster Redemptions
- Agreement type: First Supplemental Indenture amending 7.25% Senior Secured Notes due 2027
- Counterparty: Wilmington Trust, as trustee
- Signed / Effective: Jun 24 2026 / same
- Duration / Termination: Through 2027 note maturity
- Reason: Facilitate tender and redemption of 2027 notes
Agreement 3: Allegiant Travel Updates Revolving Credit Agreement to Align With New Notes Covenants
- Agreement type: Amendment No. 2 to Revolving Credit and Guaranty Agreement
- Counterparty: Barclays Bank and Deutsche Bank New York Branch, as lenders; Barclays Bank, as administrative agent
- Signed / Effective: Jun 25 2026 / same
- Duration / Termination: Through facility term
- Reason: Align covenants with new notes indenture
Original SEC Filing:
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