Southwest raising more funds

Southwest Airlines is back in the market with a $1bn bond issuance comprising $300 million senior five-year 5.250% notes, due 2025, and $700 million seven-year 5.125% notes, due 2027. The five year notes issued at 106.768% of par and the seven-year notes issued at 105.170% of par, plus accrued interest, to yield 3.661% and 4.231% respectively. The 2025 notes are an additional issuance to Southwest’s 5.250% notes due 2025, which were issued as part of the $1.25 billion offering on May 4, 2020, with identical terms. The 2027 notes are an additional issuance to Southwest’s 5.125% notes due 2027, which