Citadel, Pimco Among Spirit Bondholders Poised to Get Equity

Citadel Advisors, Pimco and Western Asset Management are among a group of investment firms that own a Spirit Airlinesbond that’s part of a the bankrupt budget carrier’s proposed debt-for-equity swap.

• The trio is part of an ad-hoc group of creditors that own Spirit’s 8% note due in 2025 and is supporting the Chapter 11 restructuring, according to a Monday court filing
  • The largest holder in the group is the $149.3 million of disclosable economic interest held by funds or accounts of Citidel or its affiliates
  • The total for Pimco is $136.4 million and it’s $106.9 million for Western ...