Allegiant to borrow up to US$81 million; may use A320 as collateral

Allegiant Travel Company, via a wholly owned subsidiary, amended its senior secured revolving credit facility under which it will now be able to borrow up to US$81.0 million based on the value of A320 Family aircraft which it may choose to place in the collateral pool for up to two years.

The facility, which has no current no balance, has a term of 24 months.

Any notes under the facility will bear interest at a floating rate based on LIBOR.

The proceeds from any drawdowns will be used for general corporate purposes.