Simpson Thacher represented the underwriters, led by Morgan Stanley & Co. LLC, Barclays Capital Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, in connection with a registered offering by Delta Air Lines (“Delta”) of $2.0 billion aggregate principal amount of its senior notes, consisting of $1 billion aggregate principal amount of 4.950% Notes due 2028 and $1 billion aggregate principal amount of 5.250% Notes due 2030. Delta intends to use a portion of the net proceeds from the offering to repay all or a portion of the approximately $1.65 billion in borrowings outstanding under its unsecured Payroll Support Program loan due April 19, 2030, with the remaining net proceeds to be used for general corporate purposes.
Delta provides scheduled air transportation for passengers and cargo throughout the U.S. and around the world. As a global airline based in the United States, Delta connects customers across its expansive global network with a commitment to ensuring that the future of travel is connected, personalized and enjoyable. In 2024, Delta served over 200 million customers safely, reliably and with industry-leading customer service innovation.
The Simpson Thacher team included David Azarkh, Evan Zuckerman and Sebastian Edin (Capital Markets); Michael E. Mann (Tax); Corina Holland and Chandler Gerard-Reimer (Intellectual Property & Privacy); Jeanne M. Annarumma and Radhika Tahiliani (Executive Compensation); Michael R. Isby and Deepa Sarkar (Environmental); and Andrew J. Pagliughi (FINRA). Kelly Johnson also provided valuable assistance.