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Alaska Air +3.6% after $1.2B in private funding

Jul. 02, 2020 8:24 AM ETAlaska Air Group, Inc. (ALK) StockALKBy: Brandy Betz, SA News Editor2 Comments
  • Alaska Airlines (NYSE:ALKsecures nearly $1.2B in private loans that will be funded on or around July 2. The funding will help the company "further secure its financial stability" during the pandemic.
  • The company will use 61 of its aircraft as collateral to back the debt: 26 Boeing 737-800s, 16 Boeing 737-900ERs, and 19 Embraer 175s.
  • Series A ($966M) of the debt will be repaid by August 15, 2027. Series B ($208M) will be repaid by August 15, 2025.
  • Alaska Air shares are up 3.6% pre-market to $37.

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