Alaska Air Group issues $500M senior notes and adds $500M term loan facility

ALASKA AIR GROUP, INC.

• Issued $500M 6.500% senior notes due June 1, 2031; fully guaranteed by Alaska Air Group.
• Notes rank equally with existing senior debt; redeemable at make-whole plus 50 bps until Dec 1, 2030.
• Added $500M incremental term loan (Term SOFR + 2.00%) under existing loyalty program credit agreement.
• Incremental term loan secured by Atmos Rewards loyalty collateral on pari passu basis with existing loans and notes.

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