Delta Air Lines sells $2 billion of notes, to repay part of $1.65 billion payroll loan
Delta completed a $2 billion public offering of unsecured notes on June 5, 2025, in two $1 billion tranches maturing in 2028 and 2030. Delta intends to use part of the net proceeds to repay about $1.65 billion of borrowings under its Payroll Support Program loan, with the remainder for general corporate purposes. The filing adds $2 billion of new debt but does not report income, earnings or guidance figures.
Key points
- $1 billion of 4.950% notes due July 10, 2028, and $1 billion of 5.250% notes due July 10, 2030
- Interest is payable semi-annually on January 10 and July 10, beginning January 10, 2026
- Part of the proceeds will repay about $1.65 billion under the Payroll Support Program loan due April 19, 2030
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits 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 10, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.