Simpson Thacher represented the underwriters, led by BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and Standard Chartered Bank, in connection with a registered offering by Delta Air Lines (“Delta”) of $500 million aggregate principal amount of 5.500% Notes due 2029. Delta intends to use a portion of the net proceeds from the offering to repay the following indebtedness: (1) approximately $391 million in borrowings outstanding under its unsecured Payroll Support Program loan due April 23, 2031, (2) approximately $70 million of equipment notes secured by aircraft due in installments from 2026 to 2033, and (3) together with cash on hand, approximately $39 million of Class B Pass Through Certificates, Series 2020-1 maturing in June 2027, 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 2025, Delta served over 200 million customers safely, reliably and with industry-leading customer service innovation.
The Simpson Thacher team included David Azarkh, Evan Zuckerman, Jeryne Fish and Ye Joo Lee (Capital Markets); Michael E. Mann (Tax); Chandler Gerard-Reimer (Intellectual Property & Privacy); George Gerstein and Christopher Torikoglu (Executive Compensation); Ryan D. Stalnaker and Geoffrey Schmelkin (Regulatory); Andrew M. Kofsky (Labor); Michael R. Isby and Deepa Sarkar (Environmental); and Andrew J. Pagliughi (FINRA).