Daily News: February 8, 2019

Barclays Agents $450MM Term Loan for Allegiant Travel


Barclays Bank acted as administrative agent, syndication agent and lead arranger on a $450 million term loan for Allegiant Travel, a Las Vegas-based airline focused on linking travelers in small and mid-sized cities to world-class leisure destinations.

The loan was secured by substantially all property and assets of the company, excluding aircraft and aircraft engines and certain other assets.

The term loan has a five-year term and will bear interest at LIBOR + 4.5% or the alternate base rate + 3.5%, subject to certain adjustments.

Allegiant plans to use the financing to prepay or purchase its existing indebtedness, including its 5.50% senior notes due 2019 and for working capital or other general corporate purposes.