Delta Air Lines to commence offering of senior secured notes due 2025

Delta Air Lines, Inc. (NYSE: DAL) has announced it proposes to commence a private senior secured notes offering of USD 1.5 billion due 2025 to eligible purchasers, the company said.

The company also announced it intends to enter into a new USD 1.5 billion Term Loan B facility due 2023 concurrent with the closing of the offering of the notes.

The Company intends to use the net proceeds from the offering of the Notes and borrowings under the New Credit Facility for general corporate purposes and to bolster its liquidity position.

The Notes and New Credit Facility will be pari passu obligations secured on a first priority basis by a diverse pool of slots, gates and routes collateral comprised of domestic slots at New York-JFK, New York-LaGuardia and Reagan National Airport, slots at Heathrow, London routes, other European and Latin American routes.