ALLEGIANT TRAVEL COMPANY ANNOUNCES OFFERING OF SENIOR SECURED NOTES

Allegiant Travel Company (NASDAQ: ALGT) has launched a private offering of $500 million Senior Secured Notes due 2031.

Rhea-AI Summary

Allegiant Travel Company (NASDAQ: ALGT) has launched a private offering of $500 million Senior Secured Notes due 2031. The notes will be guaranteed by most subsidiaries and secured by substantially all property and assets, excluding aircraft, aircraft engines, real estate and certain other assets.

According to Allegiant, net proceeds will refinance in full its existing $403 million 7.25% Senior Secured Notes due 2027, including related amounts, with the remainder used for general corporate purposes. The notes will be sold to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S.

Positive

• $500 million senior secured notes offering due 2031
• Proceeds to fully refinance $403 million 7.25% notes due 2027
• Remaining proceeds allocated to general corporate purposes

Negative

• Company issuing $500 million in new senior secured debt

Argus Jun 9 session

+5.32% close to close Open Argus

Details

News Market Reaction – ALGT

On Jun 9, the day this news came out, ALGT closed 5.32% above the previous close.

Data tracked by StockTitan Argus for the Jun 9 session.

Key Figures

New notes offering: $500.0 million Existing notes: $403.0 million Revolver size: $150.0 million +5 more

New notes offering

$500.0 million

Aggregate principal amount of Senior Secured Notes due 2031

Existing notes

$403.0 million

7.25% Senior Secured Notes due 2027 to be refinanced

Revolver size

$150.0 million

Currently undrawn revolving credit facility secured by some of the same collateral

Existing coupon

7.25%

Interest rate on existing Senior Secured Notes due 2027

New notes maturity

2031

Maturity year of new Senior Secured Notes

Existing notes maturity

2027

Maturity year of existing Senior Secured Notes being refinanced

Annual customers

22 million

Approximate annual customers served across Allegiant and Sun Country

Network scale

650 routes / 175 cities

Combined route network and city count in U.S. and select international markets

Historical Context

5 past events · Latest: May 19

5 events

1. May 19

   Route expansion

   24h Move

   -6.4%

   Announced eight new nonstop routes into key Florida leisure markets.

2. May 18

   Operations/IT update

   24h Move

   -0.3%

   Selected Navan as internal employee travel platform to streamline logistics.

3. May 13

   Acquisition close

   24h Move

   +6.9%

   Completed Sun Country acquisition, targeting $140M synergies and EPS accretion.

4. May 11

   Index rebalancing

   24h Move

   -2.4%

   S&P SmallCap 600 change tied to Allegiant’s agreement to acquire Sun Country.

5. Apr 30

   Q1 2026 earnings

   24h Move

   -0.8%

   Reported strong Q1 results and liquidity with cautious Q2 EPS guidance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

senior secured notes, aggregate principal amount, revolving credit facility, collateral, +3 more

7 terms

senior secured notes financial

"has commenced an offering of $500.0 million in aggregate principal amount of Senior Secured Notes due 2031"

Senior secured notes are loans a company sells to investors that are backed by specific assets and given first priority for repayment if the company defaults. Because they have a claim on collateral and are paid before other debts, they usually offer lower risk and correspondingly lower interest than unsecured debt; investors use them to judge how safe repayment and recovery of principal might be, like holding a mortgage instead of an unsecured credit card balance.

aggregate principal amount financial

"has commenced an offering of $500.0 million in aggregate principal amount of Senior Secured Notes"

The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.

revolving credit facility financial

"as well as a currently undrawn $150.0 million revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

collateral financial

"excluding aircraft, aircraft engines, real property and certain other assets (the "Collateral")"

Collateral is an asset a borrower pledges to a lender as security for a loan; if the borrower fails to repay, the lender can take the asset to recover losses. For investors, collateral matters because it reduces lender risk, influences interest rates and loan terms, and determines who gets paid first if a company faces financial trouble—think of it like a pawned item that gives the lender extra protection.

View in glossary

rule 144a regulatory

"buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

regulation s regulatory

"in offshore transactions in reliance on Regulation S under the Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

qualified institutional buyers financial

"offered and sold only to persons reasonably believed to be qualified institutional buyers"

Qualified institutional buyers are large organizations, like big investment firms or banks, that are allowed to buy certain types of investment opportunities not available to everyday investors. Their size and experience matter because it ensures they understand and can handle complex financial deals, making markets more efficient and secure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LAS VEGAS, June 9, 2026 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) (the "Company," "we," "us," or "our") has commenced an offering of $500.0 million in aggregate principal amount of Senior Secured Notes due 2031 (the "Notes") to investors in a private offering.

Each of the Company's subsidiaries, other than Dustland, LLC and certain other insignificant subsidiaries (the "Guarantors"), will guarantee the Notes.  The Notes and the related guarantees will be secured by security interests in substantially all of the property and assets of the Company and the Guarantors, excluding aircraft, aircraft engines, real property and certain other assets (the "Collateral").  Some of the Collateral, other than the property and assets of Sun Country Airlines Holdings, Inc. and its subsidiaries which will secure the Notes and the related guarantees, currently secures the Company's existing $403.0 million 7.25% Senior Secured Notes due 2027 (the "Existing Notes") as well as a currently undrawn $150.0 million revolving credit facility.

The Company will use the net proceeds from the sale of the Notes to refinance in full the Existing Notes and all interest, costs, fees, expenses and other amounts due and payable in respect thereof and to use the balance for general corporate purposes.

The Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction.  The Notes and the related guarantees are being offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

Allegiant – Together We Fly™

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Through Allegiant Air and Sun Country Airlines, the company serves approximately 22 million annual customers across scheduled passenger, charter and cargo operations. Together, the airlines operate more than 650 routes serving nearly 175 cities throughout the United States and select international destinations. Allegiant is committed to providing affordable travel options, operational excellence and long-term value for customers, employees, communities and shareholders. For more information, visit Allegiant.com.

Media information, including photos, is available at http://gofly.us/iiFa303wrtF

Media Inquiries: mediarelations@allegiantair.com

Investor Inquiries: ir@allegiantair.com

No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, any securities in any jurisdiction in contravention of applicable law.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/allegiant-travel-company-announces-offering-of-senior-secured-notes-302795210.html

SOURCE Allegiant Travel Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Allegiant Travel (NASDAQ: ALGT) announce on June 9, 2026 about new notes?

Allegiant Travel announced a private offering of $500 million Senior Secured Notes due 2031. According to Allegiant, the notes will be guaranteed by most subsidiaries and secured by substantially all property and assets, excluding aircraft, engines, real property and certain other assets.

How will Allegiant (ALGT) use proceeds from the $500 million senior secured notes offering?

Allegiant plans to use net proceeds to fully refinance its $403 million 7.25% Senior Secured Notes due 2027. According to Allegiant, remaining funds will cover interest, fees, expenses and other amounts due on those notes, with the balance for general corporate purposes.

Who can buy Allegiant Travel’s 2031 Senior Secured Notes (NASDAQ: ALGT)?

The notes are offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S. According to Allegiant, the notes and guarantees are not registered under the Securities Act or other jurisdictions’ securities laws.

What collateral secures Allegiant’s new Senior Secured Notes due 2031 (ALGT)?

The notes and guarantees will be secured by security interests in substantially all property and assets of Allegiant and guarantors. According to Allegiant, collateral excludes aircraft, aircraft engines, real property and certain other assets, some of which currently secure existing notes and a revolving credit facility.

Are Allegiant Travel’s $500 million Senior Secured Notes due 2031 registered securities?

No, the notes and related guarantees are not registered under the Securities Act of 1933. According to Allegiant, they will be sold through a private offering structure under Rule 144A and Regulation S, limiting availability primarily to institutional and certain offshore investors.

What existing debt will Allegiant (NASDAQ: ALGT) refinance with the 2026 notes offering?

Allegiant intends to refinance in full its $403 million 7.25% Senior Secured Notes due 2027. According to Allegiant, proceeds will cover principal, interest, costs, fees, expenses and other amounts owed on those existing notes before any remaining funds support general corporate needs.