Alaska Air Group launches senior secured notes offering in Seattle
- Alaska Air Group, Inc. announced a private offering of senior secured notes through its subsidiary, AS Mileage Plan IP Ltd.
- The funds raised will be used to support an intercompany loan to Alaska Airlines for redeeming outstanding debts from its merger with Hawaiian Airlines.
- This offering is targeted at qualified institutional buyers and is exempt from registration under the Securities Act.
On September 30, 2024, Alaska Air Group, Inc. announced a private offering of senior secured notes due in 2029 and 2031, facilitated by its subsidiary, AS Mileage Plan IP Ltd., based in the Cayman Islands. The offering aims to raise funds for a reserve account and a collection account, which will support an intercompany loan to Alaska Airlines. This loan will be utilized to redeem certain outstanding debts from the merger with Hawaiian Airlines, including senior secured notes due in 2026 and 2029. The offering is targeted at qualified institutional buyers and is exempt from registration under the Securities Act. The company emphasizes that this announcement does not constitute an offer to sell or solicit purchases of the notes in jurisdictions where such actions would be unlawful. Alaska Air Group, which recently expanded its operations through the acquisition of Hawaiian Airlines, continues to focus on enhancing its financial position and operational capabilities.