Delta Air Lines commenced an offer to purchase for cash $1.5 billion of its outstanding notes: 7.000% senior secured notes due 2025, 7.375% notes due 2026, and 4.500% senior secured notes due 2025, co-issued by Delta with SkyMiles IP Ltd.; and 3.800% notes due 2023. Delta has engaged BofA Securities and Citigroup Global Markets to serve as the lead dealer managers, BNP Paribas Securities, MUFG Securities Americas and PNC Capital Markets to serve as the Dealer Managers and has appointed D.F. King & Co. to serve as the tender agent and information agent for the Tender Offer.