{"schema_version":"secwatch.filing_event.v1","accession":"0000092380-23-000040","form_type":"8-K","ticker":"LUV","cik":"0000092380","company_name":"SOUTHWEST AIRLINES CO","filed_at":"2023-08-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.048350+00:00","generated_at":"2026-06-12T06:49:09.711977+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Southwest Airlines amends revolving credit facility, extends maturity to Aug 2028","bullets":["Extended maturity of revolving credit facility from Aug 2025 to Aug 4, 2028.","Released all aircraft and other collateral; eliminated minimum liquidity covenant.","Added Coverage Ratio financial covenant of 1.25:1 (option to reduce to 0.80:1 for two quarters).","Loan commitments unchanged; no amounts outstanding as of Aug 4, 2023.","Revised pricing margins and reduced commitment fees based on Index Debt Rating."],"urls":{"canonical":"https://secwatch.observer/filing/0000092380-23-000040","json":"https://secwatch.observer/filing/0000092380-23-000040.json","markdown":"https://secwatch.observer/filing/0000092380-23-000040.md","text":"https://secwatch.observer/filing/0000092380-23-000040.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/92380/000009238023000040/0000092380-23-000040-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/92380/000009238023000040/luv-20230804.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T06:49:09.711977+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a7a33d22d5b2fe65a188d9d1ba9e9018df3293e8","claim":"SOUTHWEST AIRLINES CO amended revolving credit of Commitments unchanged; no amounts outstanding with syndicate of lenders at Based on Adjusted Term SOFR Rate (floor 1%) or alternate base rate, with margins maturing August 4, 2028.","evidence_excerpt":"On August 4, 2023, Southwest Airlines Co. (the “Company”) amended its revolving credit facility agreement with a syndicate of lenders expiring in August 2025 (the “A&R Credit Agreement”) to (i) extend the maturity to August 4, 2028, (ii) release all aircraft and other assets constituting collateral securing the loans made under the A&R Credit Agreement, (iii) delete all provisions and terminate all agreements, in each case, relating to the grant of such collateral, (iv) eliminate the role of “Collateral Agent” under the A&R Credit Agreement after giving effect to the amendment, terminations, and releases, (v) eliminate the minimum liquidity covenant, (vi) add a Coverage Ratio financial covenant, (vii) amend the Collateral Coverage Test covenant requiring that a pool of lien-free specified aircraft and related assets have a minimum aggregate appraised value, and add certain covenants with respect to such pool of assets, (viii) amend the pricing and fees, (ix) increase certain materialit","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/92380/000009238023000040/0000092380-23-000040-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"Commitments unchanged; no amounts outstanding"},{"label":"Counterparty","value":"syndicate of lenders"},{"label":"Rate","value":"Based on Adjusted Term SOFR Rate (floor 1%) or alternate base rate, with margins"},{"label":"Maturity","value":"August 4, 2028"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}