HAWAIIAN AIRLINES ANNOUNCES LAUNCH OF PRIVATE EXCHANGE OFFER FOR ANY AND ALL OF ITS OUTSTANDING 5.750% SENIOR SECURED NOTES DUE 2026 AND CONSENT SOLICITATION
|
|
|
|
|
|
Exchange Consideration per |
||||||
|
|
|
|
|
|
Total Consideration for 2026 |
|
Exchange Consideration |
||||
|
||||||||||||
Notes |
|
CUSIP/ISINs Nos. |
|
Outstanding |
|
11.000
% |
|
Cash |
|
11.000
% |
|
Cash |
5.750% Senior |
|
41984LAA5; |
|
|
|
|
|
|
|
|
|
|
Prior to the launch of the Exchange Offer and Consent Solicitation, holders of the Existing Notes representing nearly 50% of the aggregate principal amount of the Existing Notes outstanding (the "Supporting Holders") have indicated their intent to participate in the Exchange Offer and Consent Solicitation, but no assurance can be given that any such Supporting Holder will participate.
In connection with the Exchange Offer, the Issuers are soliciting (the "Consent Solicitation" and, together with the Exchange Offer, the "Exchange Offer and Consent Solicitation") consents (the "Consents") to the adoption of certain amendments (the "Proposed Amendments") to the indenture governing the Existing Notes. Eligible Holders who tender their Existing Notes pursuant to the Exchange Offer must also deliver Consents to the Proposed Amendments. Eligible Holders may not deliver Consents to the Proposed Amendments without also validly tendering their Existing Notes.
The Exchange Offer and Consent Solicitation is being made solely to Eligible Holders upon the terms and subject to the conditions set forth in the confidential offering memorandum and solicitation statement (the "Offering Memorandum"), and the related letter of transmittal (the "Letter of Transmittal" and together with the Offering Memorandum, the "Exchange Offer Materials"), each dated
The Exchange Offer and Consent Solicitation is being made only (a) in
Upon the terms and subject to the conditions of the Exchange Offer, Eligible Holders that validly tender their Existing Notes at or prior to
Upon the terms and subject to the conditions of the Exchange Offer, Eligible Holders that validly tender, and do not validly withdraw, their Existing Notes after the Early Exchange Time but at or prior to
In addition, holders of Existing Notes validly tendered (and not validly withdrawn) in the Exchange Offer will receive on the settlement date accrued and unpaid interest to, but not including, the settlement date in cash on all such Existing Notes validly tendered and accepted for exchange pursuant to the Exchange Offer.
Tenders of Existing Notes may only be withdrawn at or prior to
Consummation of the Exchange Offer and Consent Solicitation is conditioned upon the satisfaction or waiver of the conditions set forth in the Exchange Offer Materials. The Exchange Offer and Consent Solicitation is conditioned upon Eligible Holders validly tendering and not validly withdrawing at least
The complete terms and conditions of the Exchange Offer and Consent Solicitation are described in the Exchange Offer Materials, copies of which may be obtained by Eligible Holders by contacting
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Exchange Offer and Consent Solicitation
is being made and
the New Notes are being offered only to "qualified institutional buyers" and holders that are not "
About
Now in its 95th year of continuous service, Hawaiian is Hawaiʻi's largest and longest-serving airline. Hawaiian offers approximately 150 daily flights within the Hawaiian Islands, and nonstop flights between Hawaiʻi and 16 U.S. gateway cities – more than any other airline – as well as service connecting
Consumer surveys by Condé Nast Traveler and TripAdvisor have placed Hawaiian among the top of all domestic airlines serving Hawaiʻi. The carrier was named Hawaiʻi's best employer by Forbes in 2022 and has topped Travel + Leisure's World's Best list as the No. 1 U.S. airline for the past two years. Hawaiian has also led all
The airline is committed to connecting people with aloha by offering complimentary meals for all guests on transpacific routes and the convenience of no change fees on Main Cabin and Premium Cabin seats. HawaiianMiles members also enjoy flexibility with miles that never expire. As Hawai'i's hometown airline, Hawaiian encourages guests to Travel Pono and experience the islands safely and respectfully.
For media inquiries, please visit Hawaiian Airlines' online newsroom.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain information that includes or is based upon forward-looking statements. Forward-looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "potential," and "will," and other words and terms of similar meaning, or are tied to future periods, in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, including the satisfaction of the conditions to the Exchange Offer and Consent Solicitation and the completion of the proposed Exchange Offer and Consent Solicitation.
Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining the actual future results of the Issuers, the Company and their subsidiaries and affiliates. These statements are based on current expectations and the current economic environment. They involve several risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties and other factors identified herein. The Company does not undertake any obligation to publicly correct or update any forward-looking statement if the Company later becomes aware that such statement is not likely to be achieved.
View original content to download multimedia:https://www.prnewswire.com/news-releases/hawaiian-airlines-announces-launch-of-private-exchange-offer-for-any-and-all-of-its-outstanding-5-750-senior-secured-notes-due-2026-and-consent-solicitation-302180779.html
SOURCE