Delta Air Lines Seeks $3 Billion in Bonds, Loan on Shutdown
- Bonds are being pitched at a 7% yield; loan call is today
- Delta’s borrowing plans follow United Airlines’ stock sale
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Delta Air Lines Inc. is seeking to raise $3 billion from loans and bonds as it grapples with a global travel shutdown caused by the coronavirus pandemic.
The company is offering five-year bonds to investors at a yield of about 7%, according to people familiar with the matter. Delta is also seeking a term loan under the plan, and the financing would be evenly split between the two, the company said late Wednesday.