Spirit Airlines raises new funds through liability management

Spirit Airlines received $371.3 million from an issuance of 10,594,073 shares of its common stock to holders of its 4.75% convertible senior notes due 2025.  Spirit used $368.7 million of the net proceeds from the common stock offering to redeem $340.0 million of its $850.0 million 8.00% senior secured notes due 2025, plus a premium of $27.2 million and $1.5 million in related accrued interest. As a result, $510.0 million in 8.00% senior secured notes remain outstanding. Spirit Airlines also issued $500 million of 1.00% convertible senior notes due 2026 with a conversion price of $49.07 per share. The $500.0 million