Burnham Sterling Closes $450 Million Private Placement for Delta

Burnham Sterling closed a $450 million private placement for Delta Air Lines. The financial advisor has now financed 48 mainline aircraft and raised more than $1 billion in private placement transactions for Delta.

“This is our third time working with Burnham Sterling, demonstrating our faith in their ability to execute complex private placements quickly and efficiently,” said Andy Nelson, assistant treasurer of Delta Air Lines. “We were pleased that three-quarters of the capital raised was provided by seven new investors introduced by Burnham Sterling. Their team was consistently responsive and focused on achieving an on-time closing under the pricing and terms originally agreed.”

“As the sole book runner, we were able to achieve Delta’s objectives by developing and executing a placement strategy that insulated this transaction from the recent widening of high yield spreads,” said Michael Dickey Morgan, executive managing director of Burnham Sterling. “We structured the financing, arranged the rating and placed the transaction with a diverse set of investors around the world. Burnham Sterling has successfully completed private placement transactions for a host of global airlines and aircraft manufacturers.”

Burnham Sterling is a specialized financial advisor and an affiliate of Burnham Sterling Securities, an investment bank focused on transportation, leasing, real estate and project finance.

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