05:11 AM EDT, 10/02/2024 (MT Newswires) -- Alaska Air Group ( ALK ) said late Tuesday it priced a private offering of $625 million of 5.021% senior secured notes due 2029 and $625 million of 5.308% senior secured notes due 2031, as well as a $750 million senior secured term loan B due 2031.

The notes offering size was increased to $1.25 billion from $750 million. The company expects to close the financings on or about Oct. 15.

The issuer plans to use the net proceeds to fund the reserve account for the notes and the loan facility, and to fund a collection account that will be used to make an intercompany loan to Alaska Airlines.

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