Turning into the third quarter of 2020 and with the coronavirus lockdown restrictions, airlines and lessors are seeking to raise fresh funds. Southwest Airlines is in the market with an $1.8 offering of unsecured bonds, comprising $500 million three-year notes, due 2023 paying a 4.750% coupon and yielding 3.750%, and $1.3bn seven-year notes, due 2027, paying 5.125% coupon and yield. Both tranches of notes are rated Baa1/BBB/BBB+ by Moody’s, S&P and Fitch. The airline intends to use the proceeds to repay a portion of its $3.3bn 365-day term loan. The 2023 notes will form a single series with the existing

This content is restricted to site members.

If you are an existing user, please login below.
New users may register below.

Existing Users Log In
   
Forgot password? Click here to reset
New User? Click here to register