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Spirit Airlines bankruptcy gives priority boarding to opportunistic creditors

Financial Times LogoFinancial Times11h ago

Spirit Airlines bankruptcy gives priority boarding to opportunistic creditors - Financial Times

Quick Summary:

Add in various fees and a $300mn bankruptcy loan, and the various cookies that have been negotiated are likely to prove lucrative.

It is theoretically possible for shareholders to challenge the bankruptcy settlement that was announced on Monday if they can come up with their own financing plan.

The haircut on the senior and convertible bonds will be unpleasant for any buyers who bought at par, even if they participate in the equity offering.


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Article Details

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 18:15:55 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23669612

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 14 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #3

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