Delta Air Lines Completes $500M Public Offering of 5.500% Senior Notes Due 2029

Delta Air Lines announced the completion of a public offering of $500 million in aggregate principal amount of its 5.500% Senior Notes due 2029. The company plans to use the net proceeds primarily to repay existing debt, with any remaining funds allocated for general corporate purposes.

Key Details

• Offering Size: $500 million in aggregate principal amount of 5.500% Notes, maturing on November 6, 2029.
• Use of Proceeds: A portion of the proceeds will be used to repay approximately $391 million from a Payroll Support Program loan, $70 million in equipment notes, and $39 million of Class B Pass Through Certificates.
• Note Terms: The Notes are direct, unsecured, and unsubordinated obligations of the company. Interest will be paid semi-annually on May 6 and November 6, beginning May 6, 2027.