Delta Air Lines announces proposed private offering of senior second lien notes
22-Sep-2009 Delta Air Lines (NYSE: DAL) today announced it is planning a private offering of $500 million in aggregate principal amount of senior second lien notes due 2015. Delta intends to use the net proceeds of this offering for general corporate purposes.
The notes will be secured by a junior lien on Delta's Pacific route authorities, slots and gate leaseholds. These assets also will constitute the collateral for the company's proposed senior secured credit facilities and senior secured notes due 2014.
This press release is neither an offer to sell nor the solicitation of an offer to buy the notes or any other securities. The notes will be offered in the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act. The notes have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.