Allegiant Travel Company agrees to sell $550.0 million in aggregate principal amount of its 7.250% Senior Secured Notes due 2027

Allegiant Travel Company has agreed to sell $550.0 million in aggregate principal amount of its 7.250% Senior Secured Notes due 2027 at an offering price of 99.486% of their principal amount to investors under of a private offer. The offering size was increased by $50 million from the previously announced offering size of $500 million. The Notes are expected to be issued on August 17, 2022, subject to customary closing conditions. Each of the Company’s subsidiaries will guarantee the tickets, except for Dustland, LLC, Sunseeker Resorts Inc. and its subsidiaries and certain other non-material subsidiaries. The Notes and related security will be secured by security interests in substantially all of the property and assets of the Company and the guarantors of the Notes, excluding aircraft, aircraft engines, real estate and certain other assets. . The collateral that will secure the Notes currently secures the Company’s existing $150.0 million 8.500% Senior Secured Notes due 2024 and the Company’s Term Loan B. The Company will use the net proceeds from the sale of the Notes to repay the Company’s Term Loan B, which has an outstanding principal amount of $533 million, and to pay the fees and expenses of the transaction.

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