Allegiant Travel issues $650 million of 7.125% senior secured notes due 2031
On June 24, 2026, Allegiant Travel Company issued $650 million of 7.125% senior secured notes due July 1, 2031, and used part of the proceeds to buy $377.5 million of its 7.25% notes due 2027 tendered in a tender offer. The new notes are secured by substantially all company and guarantor assets except aircraft, aircraft engines and real property, and the company must keep at least $300.0 million of liquidity at each quarter end. Shareholders should note the added secured debt and the restrictive terms, while the filing does not give total debt or cash balances.
Key points
- $650.0 million of 7.125% notes issued June 24, 2026, maturing July 1, 2031, with cash interest due January 1 and July 1 starting January 1, 2027
- $377,534,000 of 7.25% notes due 2027 purchased on June 24, 2026, at total consideration of $1,005.00 per $1,000 principal; $25,465,000 remain and are expected to be redeemed in third quarter 2026
- Notes are secured by substantially all assets excluding aircraft, aircraft engines and real property; a $300.0 million minimum liquidity covenant applies, with 2.0% additional interest if breached
- Existing 2027 notes indenture amended to remove most restrictive covenants and cut the redemption notice period from 30 days to 3 business days
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 26, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.