Delta Air Lines Inc. (DAL) said Thursday that the debt offering planned with its SkyMiles IP Ltd. subsidiary was upsized to $9.0 billion from previous plans for a $6.5 billion offering ( ). The air carrier said the offering will include an aggregate of $2.5 billion in 4.5% senior secured notes due 2025 and $3.5 billion in 4.75% senior secured notes due 2028. The company said it also expects to enter into a credit agreement providing for a $3.0 billion term loan facility. The stock, which fell 0.8% in premarket trading, has dropped 40.9% year to date through Wednesday while the U.S. Global Jets ETF (JETS) has lost 40.0% and the S&P 500 has gained 4.8%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 17, 2020 08:44 ET (12:44 GMT)
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