Spirit Airlines plans $300M IPO to pay debt

Budget carrier Spirit Airlines Inc. has filed plans to hold an initial public offering. With IPO of up to $300 million the carrier is expected to retain about 50% of the net proceeds.

Spirit Airlines plans $300M IPO to pay debt

Budget carrier Spirit Airlines Inc. has filed plans to hold an initial public offering. With IPO of up to $300 million the carrier is expected to retain about 50% of the net proceeds.

Wall Street Journal reports that according to the company’s regulatory filing, it expects to retain $150 million from the offering. The remaining proceeds will be used to pay a $1.6 million termination fee with Indigo Partners LLC, which acquired a majority stake in Spirit in 2006. Other proceeds will be used to repay outstanding notes.


GOT NEWS? click here

possible to reach millions worldwide
Google News, Bing News, Yahoo News, 200+ publications


Author: editor

Follow on Feedly