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DAL 424B5: Secondary offering

Filed with the SEC on · accession 0001193125-26-449991

DAL filed a 424B5 (prospectus (offering)) with the SEC on Nov 5, 2026. Delta Air Lines is offering $500 million aggregate principal amount of 5.500% senior unsecured notes due 2029. The stock moved -4.3% by the first close after the filing.

Summary of the filing

Delta Air Lines is offering $500 million aggregate principal amount of 5.500% senior unsecured notes due 2029. The notes were priced at 99.855% of par, with proceeds to Delta of approximately $496.8 million before expenses.

For details, click here →How to read a 424B5 →

Key details

Aggregate principal amount of notes offered$500.0M
Public offering price per note$100
Total public offering price$499.3M
Underwriting discount$2.5M
Proceeds to Delta before expenses$496.8M
Coupon rate$6
IssuerDelta Air Lines, Inc.
Joint book-running managerBofA Securities
Joint book-running managerCitigroup
Joint book-running managerDeutsche Bank Securities
Joint book-running managerGoldman Sachs & Co. LLC
Joint book-running managerStandard Chartered Bank

How DAL stock reacted

Close before

$89.24

Nov 4, 2026

First close after

-4.35%

$85.36

5 trading days

—

Since filing

-2.29%

$87.20

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Frequently asked questions

What did DAL file with the SEC on Nov 5, 2026?

DAL filed a 424B5 (Secondary offering). Delta Air Lines is offering $500 million aggregate principal amount of 5.500% senior unsecured notes due 2029. The notes were priced at 99.855% of par, with proceeds to Delta of approximately $496.8 million before expenses.

What does a secondary offering mean for DAL stock?

New shares dilute existing holders and are often sold at a discount to the market price.

How do I read a 424B5?

The final terms of an offering of shares or bonds. Look at price, number of shares and the discount to the market price. Large offerings dilute existing shareholders.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A 424B5 (prospectus (offering)): The final terms of an offering of shares or bonds.

How did DAL stock react to this filing?

DAL closed at $89.24 before the filing and $85.36 on Nov 5, 2026 (-4.35%).

Other DAL SEC filings

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