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Hawaiian Holdings (HA) has issued an announcement.
Hawaiian Airlines, through its subsidiaries, successfully completed an exchange offer, swapping existing 5.750% Senior Secured Notes due 2026 for new 11.000% Senior Secured Notes due 2029, along with cash considerations. No cash proceeds were received from the exchange, and the new notes, totaling nearly $985 million in principal, are backed by substantial collateral, including intellectual property rights and the HawaiianMiles loyalty program. The new securities offer quarterly interest payments and come with a series of financial covenants and redemption options, providing investors with a structured financial instrument that is senior to existing and future unsecured debts and equal to current senior indebtedness.
For a thorough assessment of HA stock, go to TipRanks’ Stock Analysis page.
