Allegiant Travel CO (ALGT): debt financing — Allegiant enters new $100M aircraft-backed revolving credit facility

Allegiant Travel CO

Facility allows borrowing up to $100M based on value of aircraft and engines placed in collateral pool.
Term of 36 months; borrowings bear floating rate based on SOFR; proceeds for general corporate purposes.
No balance currently outstanding; facility replaces existing revolving credit facility expiring March 2023.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Allegiant Travel CO incurred revolving credit of up to $100.0 million at a floating rate based on SOFR maturing 36 months.

Instrument: revolving credit
Principal: up to $100.0 million
Rate: a floating rate based on SOFR
Maturity: 36 months
Event: incurrence

Exact text from the filing

On February 1, 2023, Allegiant Travel Company (“ the Company”) , through a wholly owned subsidiary, entered into a new senior secured revolving credit facility under which it will be able to borrow up to $100.0 million based on the value of new and used aircraft and engines which the Company may choose (subject to certain concentration limits and asset age restrictions) to place in the collateral pool.

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Source: SEC EDGAR

accession 0001362468-23-000008

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