|Bid||33.85 x 1800|
|Ask||34.45 x 1300|
|Day's Range||33.63 - 35.03|
|52 Week Range||17.51 - 62.48|
|Beta (5Y Monthly)||1.32|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 19, 2020|
|1y Target Est||N/A|
Today, Delta Air Lines (NYSE:DAL) announced the upsize and pricing of the previously announced private offering by Delta and its indirect wholly owned subsidiary, SkyMiles IP Ltd. An aggregate of $2.5 billion in principal amount of 4.5% senior secured notes due 2025 and an aggregate of $3.5 billion in principal amount of 4.75% senior secured notes due 2028 (collectively the "Notes") are expected to be issued on Sept. 23, 2020, subject to customary closing conditions. The Notes will be issued at a price to investors of 100% of their principal amount. Concurrently with the issuance of the Notes, Delta and SkyMiles IP Ltd. expect to enter into a credit agreement providing for a $3.0 billion term loan facility ("New Credit Facility"), also subject to customary closing conditions. In total, the Notes and New Credit Facility will provide gross proceeds of $9.0 billion, an increase of $2.5 billion from the anticipated original $6.5 billion deal size, at a blended average annual rate of 4.75%.
Today Delta Air Lines, Inc. (NYSE:DAL) (the "Company" or "Delta") announced that the Company and SkyMiles IP Ltd., a newly formed Cayman Islands exempted company incorporated with limited liability and an indirect wholly owned subsidiary of Delta, intend to commence a private offering to eligible purchasers of senior secured notes in one or more tranches (the "Notes"), subject to market and other conditions, and to enter into a senior secured term loan facility (the "New Credit Facility") concurrently with the closing of the offering of the Notes. The aggregate principal amount of the Notes and the New Credit Facility is expected to be $6.5 billion. Delta and SkyMiles IP Ltd. will be co-issuers of the Notes and co-borrowers under the New Credit Facility. The Notes and the New Credit Facility will be guaranteed by certain of Delta's subsidiaries. The offering of the Notes is not contingent upon the closing of the New Credit Facility.
Delta Air Lines (NYSE:DAL) will present at the Morgan Stanley Virtual 8th Annual Laguna Conference at 4:30 p.m. ET on Thursday, September 17, 2020.