Alaska Air Group Launches Proposed Senior Secured Term Loan Facility And Intends To Issue Additional Pari Passu Senior Secured Debt, Mileage Plan Financing Expected To Be $1.5B
Portfolio Pulse from Benzinga Newsdesk
Alaska Air Group announced a $1.5 billion Mileage Plan Financing through a senior secured term loan facility and additional pari passu senior secured debt. The financing is secured by Alaska Airlines' customer loyalty program.
September 23, 2024 | 4:44 pm
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Alaska Air Group is raising $1.5 billion through a senior secured term loan and additional debt, secured by its Mileage Plan loyalty program. This move could strengthen its financial position.
The $1.5 billion financing is significant for Alaska Air Group as it is secured by the valuable Mileage Plan loyalty program, indicating a strategic move to enhance liquidity and financial stability. This could positively impact the stock price in the short term.
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