SOUTHWEST AIRLINES ANNOUNCES PRICING OF NOTES

Southwest Airlines priced a $1.25 billion underwritten public offering of senior notes, split into $600 million of 5.750% notes due 2029 and $650 million of 6.000% notes due 2031. Proceeds are for general corporate purposes, including repayment at maturity of all $300 million of outstanding 3.000% notes due November 15, 2026, plus possible repayment or redemption of other debt. The refinancing comes at materially higher coupons than the debt being retired; closing is expected on or about November 2, 2026, with Barclays, BNP Paribas, Standard Chartered, U.S.

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