Allegiant Air has closed a $28 million secured loan backed by two Airbus A319s in its fleet.

The five-year debt from Tokyo Star Bank and Development Bank of Japan (DBJ) is priced at a base rate over Libor, the Las Vegas-based carrier says in a stock exchange filing. It closed on 29 January.

Proceeds from the loan will be used for general corporate purposes.

Allegiant has used its A319s as collateral for a number of debt transactions. It closed a $29 million deal backed by two of the Airbus narrowbodies in September and another $26.5 million deal backed by two more aircraft in June.

The airline had $326 million in cash, cash equivalents and short-term investments and $566 million in long-term debt net current maturities at the end of September 2015.

Source: Cirium Dashboard