Chicago, July 29 – Hawaiian Airlines, Inc., a wholly owned subsidiary of Hawaiian Holdings, Inc., priced an offering of enhanced equipment trust certificates, which will be used to obtain financing secured by eight Airbus aircraft, according to a news release on Tuesday.
The Rule 144A and Regulation S offering comprises $216,976,000 of 7 3/8% class A certificates (//A-) and $45.01 million of 11¼% class B certificates (//BB+). Each class of certificates represents an interest in its respective passthrough trust.
The trusts will use the proceeds from the offering to acquire equipment notes.
Hawaiian Holdings will fully and unconditionally guarantee the payment obligations of the company under the equipment notes.
The airline is based in Honolulu.
| Issuer: | Hawaiian Airlines, Inc.
|
| Guarantor: | Hawaiian Holdings, Inc.
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| Issue: | Enhanced equipment trust certificates
|
| Amount: | $261.99 million
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 5
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A
|
| Amount: | $216,976,000
|
| Coupon: | 7 3/8%
|
| Final distribution: | Sept. 15, 2027
|
| Rating: | Fitch: A-
|
|
|
| Class B
|
| Amount: | $45.01 million
|
| Coupon: | 11¼%
|
| Final distribution: | Sept. 15, 2025
|
| Rating: | Fitch: BB+
|
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