Atlas Air to pay down revolver with proceeds of convertibles offering

By Wendy Van Sickle

Columbus, Ohio, May 16 – Atlas Air Worldwide Holdings, Inc. plans to repay revolving credit facility borrowings with some proceeds of an offering of up to $250 million of convertible senior notes due 2024, according to a press release.

The company plans to use additional proceeds to enhance business and financial flexibility, support long-term growth, fund convertible note hedge transactions and for general corporate purposes.

Purchase, N.Y.-based Atlas Air provides outsourced aircraft and aviation operating services.

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