secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHWEST AIRLINES CO (LUV)
CIK:        0000092380
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0000092380-23-000040
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Southwest Airlines amends revolving credit facility, extends maturity to Aug 2028
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/92380/000009238023000040/0000092380-23-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/92380/000009238023000040/luv-20230804.htm
  HTML page:      https://secwatch.observer/filing/0000092380-23-000040

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