Hawaiian Holdings Restructures Debt with Secured Notes Swap
Company Announcements

Hawaiian Holdings Restructures Debt with Secured Notes Swap

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.

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