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Hawaiian Airlines extends early deadline of tender for certificates
By Marisa Wong
Los Angeles, Oct. 7 – Hawaiian Airlines, Inc., a wholly owned subsidiary of Hawaiian Holdings, Inc., announced it is extending the early tender deadline of its offers to purchase for cash any and all of two series of pass-through certificates and the related consent solicitations.
The early tender deadline has been extended to 5 p.m. ET on Oct. 14 from 5 p.m. ET on Oct. 6.
The withdrawal deadline at 5 p.m. ET on Oct. 6 remains in place.
The expiration time at 11:59 p.m. ET on Oct. 21 also remains unchanged. Settlement is still expected to occur on Oct. 25.
As announced on Sept. 23, the airline is offering to buy any and all of the 7 3/8% series 2020-1A pass-through certificates due 2027 (Cusips: 41983PAA7, U2468PAA0) and the 11¼% series 2020-1B pass-through certificates due 2025 (Cusips: 41983PAB5, U2468PAB8).
For both series, the company is offering a total consideration of $1,170 per $1,000 certificate. The consideration includes a $30 early tender premium if holders tender by the early deadline.
Accrued interest will also be paid to the relevant settlement date.
The company is also soliciting consents from holders of a majority of the outstanding pool balance of each series of certificates (voting as separate classes) to some proposed amendments and holders of a majority of the aggregate pool balance outstanding of both series of certificates (voting as a single class) to some proposed amendments that would, among other things, eliminate some covenants related to the equipment notes and certificates.
Tendering holders will be deemed to have given consent. Holders can also consent without tendering their certificates.
Funding for the offers will come from cash on hand.
Citigroup Global Markets Inc. (800 558-3745, 212 723-6106) is the dealer manager and the solicitation agent in the tender offers and consent solicitations.
Global Bondholder Services Corp. (212 430-3774, 866 807-2200, contact@gbsc-usa.com) is the tender and information agent.
Hawaiian is a Honolulu-based commercial airline.
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