Alaska Air Group, Inc. (NYSE: ALK ) today announced the pricing of the previously announced private offering (the " Offering ") of (i) $625 million aggregate principal amount of 5.021% Senior Secured Notes due 2029 and $625 million aggregate principal amount of 5.308% Senior Secured Notes due 2031 (the " Notes ") by AS Mileage Plan IP, Ltd. (" Loyalty Issuer "), an exempted company incorporated with limited liability under the laws of the Cayman Islands and an indirect, wholly-owned subsidiary of the Company and (ii) $750 million senior secured Term Loan B due 2031 (the " Loyalty Term Loan Facility " and, together with the Notes the " Loyalty Financings "). The aggregate amount of the Offering was increased to $1,250 million from the previously announced offering size of $750 million in aggregate principal amount of Notes. The Company expects to close the Loyalty Financings on or about October 15, 2024, subject to the satisfaction of customary conditions.