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-0.000415411776923941 -0.000415411776923941 -0.000623117665385837 -0.000726970609616859 0.000623117665385837 0.00124623533077167 0.00238861771731233 0.0024924706615432
Stock impact report

Spirit Airlines shares jump 46% on extension to debt refinancing deadline [Yahoo! Finance Canada]

U.S. Bancorp (USB) 
Last u.s. bancorp earnings: 4/15 06:45 am Check Earnings Report
a deal with its credit card processor to extend a debt refinancing deadline by two months until Dec. 23. The agreement with U.S. Bank National Association provides some elbow room to Spirit to refinance its $1.1 billion loyalty bonds due to mature next year. The previous refinancing deadline was Oct. 21. The Florida-based company said on Friday it had fully drawn down its $300 million revolving credit facility and expects to end this year with over $1 billion in liquidity. "Spirit has to address debt payment timing and resizing the fixed cost structure, and it is still unclear if this can be completed with/without Chapter 11," said Savanthi Syth, analyst at Raymond James. Spirit, which has failed to report a profit in the last five out of six quarters, unveiled plans to tap into premium travel in July to mitigate cost pressures and boost earnings. This marked a major shift away from its no-frills, ultra-low cost model. Shares of Spirit have fallen about 91% this year, while Show less Read more
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