Delta Air Lines announces the preliminary tender results of its proposal for the outstanding notes and the election of the initial settlement for

atlanta, August 1, 2022 /PRNewswire/ — Delta Air Lines, Inc. (NYSE:DAL) (“Delta”) today announced preliminary tender participation results, as 5:00 pm, New York City on time 29 July 2022 (“Early Tender Time”), for the cash tender offer announced earlier $1.5 billion in the total purchase price, excluding accrued and unpaid interest (“Maximum Tender Amount”) of certain outstanding debt securities (“Notes”).

With respect to Notes that are validly presented and not validly withdrawn on or before the Initial Tender Time, Delta has elected an Early Settlement Date for making payment for such Notes. 2 August 2022, Tender offer is being made subject to the terms and conditions stipulated in the offer date of purchase 18 July 2022 (“Offer to Buy”).

The following table provides some information on the Notes and Participation in the Tender Offer, including the total principal amount of each series of Notes validly submitted as of the initial tender time, pursuant to DF King & Co., Inc., Tender Is. Agent and Information Agent for Tender Offer:

title of security


CUSIP number(s). ,

is in


Accept
priority level


total principal
outstanding amount


gross
principal
Zodiac
Presented


gross
principal
amount to be
approved for
purchase


proration
factor1

Delta Air Lines, Inc.
7.00% senior safe
Notes due by 2025 (the
“2025 Notes”)


247361ZX9

U24740AM1 /

US247361ZX93

USU24740AM10


1


$2,019,378,500


$477,865,000


$477,865,000


100.0%

Delta Air Lines, Inc.
7.375% Notes Payable 2026
(“2026 Notes”)


247361 ZZ4 /

US247361ZZ42


2


$940,646,000


$83,517,000


$83,517,000


100.0%

Delta Air Lines, Inc. And
Skymiles IP Limited 4.50%
senior safe notes
Due by 2025 (“Skymiles”
notes”)


830867 AA5

G8200V / AA3

US830867AA59

USG8200VAA38


3


$2,500,000,000


$855,822,085


$855,822,085


100.0%

Delta Air Lines, Inc.
3.800% Notes Payable 2023
(“2023 Notes”)


247361 ZP6 /

US247361ZP69


4


$421,188,000


$83,700,000


$65,228,000


77.9%

1 The ratio factor is rounded to the nearest tenth of a percentage point for presentation purposes.

There was a time limit for withdrawing the notes validly presented in the tender offer 5:00 pm, New York City on time 29 July 2022whose time limit has not been extended. Accordingly, previously presented notes may no longer be withdrawn, except where Delta determines that additional withdrawal rights are required by law.

The acceptance of tender notes was done in accordance with the terms and conditions of the tender offer as mentioned in the offer to purchase. Since the total purchase price of the notes validly submitted and not validly withdrawn as of the initial tender time exceeded the maximum tender amount, the 2023 notes accepted for purchase by Delta were reduced. The maximum amount of 2023 notes to be accepted was pro-rata. As a result of which the maximum tender amount was not exceeded. Delta will not accept for purchase any notes submitted after the initial tender time.

Delta has appointed BofA Securities and Citigroup Global Markets Inc. as Lead Dealer Managers, BNP Paribas Securities Corp., MUFG Securities Americas Inc. and PNC Capital Markets LLC to act as Dealer Managers in connection with the tender offer. DF King & Co., Inc. To serve as tender agent and information agent for tender offer. Copies of the purchase offer DF King & Co., Inc. We are available via telephone from (800) 967-5084 (toll-free) or banks and brokers at (212) 269-5550 or by e-mail: [email protected], A copy of the purchase offer is also available at the following web address: www.dfking.com/delta. Questions regarding the terms of the tender offer should be directed to BofA Securities at (980) 388-0539 or via email address [email protected] or Citigroup Global Markets Inc. at (212) 723-6106 or via email address [email protected],

This press release is for informational purposes only and does not constitute an offer to buy or solicitation of an offer to buy in relation to any securities. Furthermore, this press release is not a solicitation of an offer to sell or buy any securities. Tender offer is being made only in accordance with the offer for purchase and only in such jurisdictions as are permitted under applicable law. In any jurisdiction where a tender offer is required by a licensed broker or dealer, the tender offer shall be deemed to have been made by the dealer managers on behalf of Delta, or by one or more registered brokers or dealers under whom the license is granted. Is. the laws of such jurisdiction.

about delta

no one connects the world better than this

With a commitment to industry-leading customer service, safety and innovation, more than 4,000 Delta flights fly daily to connect people in more than 275 destinations across six continents. As a leading global airline, Delta’s mission is to create opportunities, promote understanding, and expand horizons by connecting people and communities to each other and their potential.

Delta’s more than 80,000 employees believe that our customers should not have to choose between seeing the world and saving the planet. Delta is working towards more sustainable aviation by leveraging existing solutions and technologies, investing in the future of sustainable aviation fuels, and actively engaging with next generation solutions.

Our people are the leaders in providing world-class customer experiences, and we continue to ensure that the future of travel is personalized, enjoyable and stress-free. The real and enduring motivation of our people is to make every customer feel welcome and honored at every point of their journey with us.

forward-looking statements

Statements made in this press release that are not historical facts, including statements about our estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments or strategies for the future, are referred to as “future- oriented statement”. The Securities Exchange Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the projections, expectations, beliefs, intentions, projections, goals, aspirations, commitments and strategies reflected or suggested in the forward-looking statements. . These risks and uncertainties include, but are not limited to, market conditions and timing and Delta’s ability to meet the tender offer; the material adverse impact of the COVID-19 pandemic on our business; The impact of taking on significant debt in response to the pandemic; failure to comply with the financial and other agreements in our financial agreements; the potential effects of accidents involving our aircraft or those of our airline partners; breaches or omissions in the security of technology systems on which we rely and the data stored within them, as well as compliance with ever-evolving global privacy and security regulatory obligations; disruption to our information technology infrastructure; our reliance on technology in our operations; our commercial relationships with airlines in other parts of the world and our investments in some of those airlines; the effects of significant disruption to the operation or performance of third parties on whom we rely; failure to realize the full value of the intangible or long-lasting asset; labor issues; Effects of weather, natural disasters and weather on our business; changes in the cost of aircraft fuel; Extended disruption in the supply of aircraft fuel, including to Monroe Energy, LLC (“monroe“), a wholly owned subsidiary of Delta; the failure or inability of insurance to cover a significant liability on Monroe’s Trainer Refinery; Failure to comply with existing and future environmental regulations for which Monroe’s Refinery operations are subject, including costs related to compliance with the Renewable Fuel Standards Regulations; Our ability to retain senior management and other key employees and uphold our company culture; Significant damage to our reputation and brand, including exposure to significant adverse publicity or the inability to achieve certain sustainability goals; the effects of terrorist attacks, geopolitical conflicts or security incidents; competitive conditions in the airline industry; Extended interruptions or disruptions in service at the major airports at which we operate, or significant problems related to the types of aircraft or engines we operate; the effects of the broader government regulations to which we are subject; The impact of environmental regulation, including, but not limited to, increased regulation to reduce emissions and other risks associated with climate change, and the cost of complying with more stringent environmental regulations; and adverse economic or political conditions in the markets in which we operate or volatility in currency exchange rates.

Additional information regarding the risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in our Securities and Exchange Commission filings, including our annual report on Form 10-K for the fiscal year ended. December 31, 2021 and our quarterly report on Form 10-Q for the quarter ended 30 June 2022, Care should be taken not to place undue reliance on our forward-looking statements, which only represent our views as of the date of this press release, and which we undertake no obligation to update except to the extent required by law.

Source Delta Air Lines

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