DELTA AIR LINES, INC. (DAL): debt financing — Delta issues $877.9M in special facilities bonds for LaGuardia redevelopment

DELTA AIR LINES, INC.

NYTDC issued $877,855,000 Series 2023 bonds; Delta is obligated to pay debt service and guaranteed the bonds.
Bonds split: $428.1M at 6.000% due 2035; $449.8M at 5.625% due 2040.
Proceeds finance LaGuardia Terminals C&D redevelopment, pay interest, and issuance costs.
Obligations secured by mortgages on Delta's lease from Port Authority.
Optional redemption after April 1, 2031 at par; mandatory sinking fund redemptions apply.

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

DELTA AIR LINES, INC. incurred senior notes of $877,855,000 with New York Transportation Development Corporation at 6.000% and 5.625% maturing April 1, 2035 and April 1, 2040.

Instrument: senior notes
Principal: $877,855,000
Counterparty: New York Transportation Development Corporation
Rate: 6.000% and 5.625%
Maturity: April 1, 2035 and April 1, 2040
Event: incurrence

Exact text from the filing

On November 2, 2023, the New York Transportation Development Corporation (“NYTDC”) issued its Special Facilities Revenue Bonds, Series 2023 (Delta Air Lines, Inc. – LaGuardia Airport Terminals C&D Redevelopment Project), in the aggregate principal amount of $877,855,000 (the “2023 Bonds”).

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DELTA AIR LINES, INC. filing history →

Source: SEC EDGAR

accession 0001683168-23-007623

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