Delta Air Lines (DAL) FWPFree writing prospectus
Filed: 12 Aug 11, 12:00am
Securities: | Pass Through Certificates, Series 2011-1B (the “Class B Certificates”) | |
Amount: | $102,000,000 | |
Preliminary Prospectus Supplement: | Delta has prepared and filed with the SEC a Preliminary Prospectus Supplement, dated August 12, 2011 (the “Preliminary Prospectus Supplement”), which includes additional information regarding the Class B Certificates. Terms used but not defined herein shall have the meanings set forth in the Preliminary Prospectus Supplement. | |
Ratings: | It is a condition to the issuance of the Class B Certificates that they be rated by Moody’s and Standard & Poor’s at not less than the ratings set forth in the table below: | |
Moody’s: | Ba3 | |
Standard & Poor’s: | BB | |
The issuance of the Class B Certificates is also subject to receipt of written confirmation from Moody’s and Standard & Poor’s that the issuance of the Class B Certificates would not result in a reduction,withdrawal or suspension of the ratings of the Class A Certificates. | ||
Public Offering Price: | 100% | |
CUSIP: | 24736WAB6 | |
ISIN: | US24736WAB63 | |
Coupon/Stated Interest Rate: | 7.125% | |
Make-Whole Spread over Treasuries: | 0.50% | |
Depositary Rating: | The Depositary currently meets the Depositary Threshold Rating requirement. The Depositary has Long-Term Ratings of Aaa from Moody’s and AA from Standard & Poor’s and Short-Term Ratings of P-1 from Moody’s and A-1+ from Standard & Poor’s. |
Class B Liquidity Provider Rating: | The Class B Liquidity Provider currently meets the Liquidity Threshold Rating requirement. The Class B Liquidity Provider has Short-Term Ratings of P-1 from Moody’s and A-1 from Standard & Poor’s. | |
Available Amount under the Class B Liquidity Facility at October 15, 20111: | $10,901,250 | |
Initial “Maximum Commitment” under the Class B Liquidity Facility: | $10,901,250 | |
Underwriter: | Citigroup Global Markets Inc. | |
Underwriting Commission: | $1,147,500 | |
Underwriter Reimbursement of Certain Delta Expenses: | $637,500 | |
Transfer Restrictions for Class B Certificates: | The Class B Certificates will be subject to transfer restrictions. They may be sold only to qualified institutional buyers, as defined in Rule 144A under the Securities Act of 1933 (as amended), for so long as they are outstanding. | |
Underwriting Agreement: | August 12, 2011 | |
Settlement: | August 17, 2011 (T+3) closing date, the third business day following the date hereof. |
1 | The first Regular Distribution Date to occur after the Class B Issuance Date. |