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Sept. 14, 2020, 7:27 a.m. EDT

Delta Air Lines and SkyMiles IP to issue bonds and enter term loan for aggregate $6.5 billion

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By Ciara Linnane

Delta Air Lines Inc. /zigman2/quotes/200327741/composite DAL -1.97% said Monday that it and its subsidiary SkyMiles IP Ltd are planning to offer bonds and also enter a senior secured term loan facility for an aggregated $6.5 billion. SkyMiles will then lend Delta the proceeds, after depositing a portion in a reserve account. Delta will use the sum for general corporate purposes and to bolster liquidity. U.S. companies have been borrowing at record levels in 2020 during the pandemic. Delta shares rose 2% premarket, but have fallen 46% in the year to date, while the U.S. Global JETS ETF /zigman2/quotes/207744796/composite JETS -2.69% has fallen 43%, and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.46% has gained 3.4%.

/zigman2/quotes/200327741/composite
US : U.S.: NYSE
$ 40.25
-0.81 -1.97%
Volume: 16.73M
Nov. 30, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$26.19 billion
Rev. per Employee
$516,549
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/zigman2/quotes/207744796/composite
US : U.S.: NYSE Arca
$ 22.03
-0.61 -2.69%
Volume: 6.73M
Nov. 30, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,621.63
-16.72 -0.46%
Volume: 3.65B
Nov. 30, 2020 5:34p
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