secwatch.observer — SEC 8-K summary
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Issuer:     Spirit Aviation Holdings, Inc. (FLYYQ)
CIK:        0001498710
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0001498710-22-000364
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spirit Airlines closes $600M add-on 8% senior secured notes due 2025, refinances EETC maturities
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- Issued $600M of 8.00% senior secured notes due Sept 2025; total notes outstanding ~$1.11B.
- Proceeds to repay $5.11% 2017-1C EETC (Feb 2023) and $4.93% 2015-1C EETC (Apr 2023) and for general corporate purposes.
- Notes secured by loyalty program assets (Free Spirit cash proceeds, Saver$ Club fees) and brand IP.
- Indenture requires Spirit to maintain minimum liquidity of $400M at all times.
- Notes issued by Spirit IP Cayman and Spirit Loyalty Cayman; guaranteed by parent and Cayman subsidiaries.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498710/000149871022000364/0001498710-22-000364-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498710/000149871022000364/save-20221117.htm
  HTML page:      https://secwatch.observer/filing/0001498710-22-000364

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