Southwest Airlines Co. (LUV) said it has priced its public offering of $1.8 billion of debt in two tranches.The U.S. carrier will offer to sell $500 million aggregate principal amount of 4.750% notes due 2023 and $1.3 billion aggregate principal amount of 5.125% notes due 2027. The 2027 notes will be issued at par value.Southwest Airlines said it expects to use the net proceeds from the offering to repay all of its outstanding debt under its 364-day credit agreement and for general corporate purposes. Upon repayment, it will terminate the credit agreement. The offering is expected to close by June 8, 2020, subject to customary closing conditions.The U.S. carrier added that the 2023 bonds are being offered as an additional issuance of its 4.750% notes due 2023, of which it sold $750 million aggregate principal amount on May 4. The notes are part of the same class as the initial notes of that series and have...
(Bloomberg) -- Apple Inc. Chief Executive Officer Tim Cook wrote an open letter on racism, highlighting that his company must do more.The full text of the letter was posted to the iPhone maker’s website.“To create change, we have to reexamine our own views and actions in light of a pain that is deeply felt but too often ignored,” Cook said. “Issues of human dignity will not abide standing on the sidelines. To the Black community -- we see you. You matter and your lives matter.”Cook said Apple would “commit to continuing our work to bring critical resources and technology to underserved school systems,” as well as “fight the forces of environmental injustice -- like climate change -- which disproportionately harm Black communities and other communities of color.”Earlier this week, Cook said in an internal memo to employees that protections for people are “still not universally applied” as he discussed discrimination and...
Fewer fleets reported an increase in business for April than they did a month earlier for March, according to HDT’s May COVID-19 fleet survey, which also revealed month-over-month changes in the main ways fleets were protecting the health and safety of their employees. ...
