May 29, 2013
/PRNewswire/ -- Hawaiian Airlines, Inc. (the "Company"), a wholly owned subsidiary of Hawaiian Holdings, Inc. (NasdaqGS: HA), announced today the closing of its first-ever offering of Enhanced Equipment Trust Certificates ("EETC") securing fixed, low-interest financing for the acquisition of six new Airbus A330-200 aircraft delivering over the next 18 months.
"This financing represents a significant landmark for Hawaiian and we are very pleased with the results," said
, Chief Financial Officer. "The fixed interest rates on each of the Class A and Class B certificates are the lowest ever achieved by an airline via a public EETC offering without an insurance wrap. The offering opens a significant new source of future capital for Hawaiian and reflects our financial strength, the confidence that capital market investors have in our strategy and the enduring value of our investment in the Airbus aircraft."
issuance is comprised of
of Class A Certificates, having an interest rate of 3.90% per annum and a final expected distribution date of
January 15, 2026
of Class B Certificates, having an interest rate of 4.95% per annum and a final expected distribution date of
As previously announced, each class of Certificates represents an interest in its respective pass through trust. The trusts will use the proceeds from the offering to acquire equipment notes that will be issued by the Company to finance the acquisition of six Airbus A330-200 aircraft, which will be added to the Company's fleet and are scheduled for delivery from
to October 2014. The equipment notes will be secured by the six Airbus A330-200 aircraft being acquired. Hawaiian Holdings, Inc. will fully and unconditionally guarantee the payment obligations of the Company under the equipment notes.