- Allegiant Travel Co (NASDAQ:ALGT) commenced an offering of $500 million of Senior Secured Notes due 2027 to investors in a private offering.
- The company’s subsidiaries will guarantee the Notes, other than Dustland, LLC, Sunseeker Resorts, Inc. and its subsidiaries, and certain other insignificant subsidiaries.
- The collateral that will secure the Notes currently secures the company’s existing $150 million 8.500% Senior Secured Notes due 2024 and the company’s Term Loan B.
- Allegiant intends to use the net proceeds, together with cash on hand, to repay its Term Loan B, which has an outstanding principal amount of $533 million.
- Price Action: ALGT shares are trading higher by 2.39% at $106.69 on the last check Wednesday.
JP Morgan Initiates Coverage On Victoria’s Secret with Overweight Rating, Announces Price Target of $100
JP Morgan analyst Matthew Boss initiates coverage on Victoria's Secret (NYSE:VSCO) with a Overweight rating and announces Price Target of $100.
