Spirit Airlines Announces Pricing of Upsized Offering of Senior Secured Notes by Brand and Loyalty Subsidiaries

Spirit Airlines, Inc. (NYSE: SAVE)(“Spirit”) today announced the pricing and upsize of the previously announced private offering by Spirit IP Cayman Ltd. (the “Brand IP Issuer”) and Spirit Loyalty Cayman Ltd. (the “Loyalty IP Issuer” and, together with the Brand IP Issuer, the “Issuers”), each a Cayman Islands exempted company incorporated with limited liability and an indirect wholly-owned subsidiary of Spirit. An aggregate of $850 million in principal amount of 8.00% senior secured notes due 2025 (the “Notes”) is expected to be issued on September 17, 2020, subject to customary closing conditions. The offering was upsized to $850 million from the originally announced aggregate principal amount of $600 million.