secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHWEST AIRLINES CO (LUV)
CIK:        0000092380
Form:       8-K
Filed at:   2026-08-12T20:06:35+00:00
Accession:  0000092380-26-000098
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 2.03, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southwest Airlines enters new $2B revolving credit facility, replaces 2016 facility
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- New $2B five-year revolving credit facility signed Aug 10, 2026; maturity Aug 10, 2031, with two optional one-year extensions.
- Accordion feature allows increase to $3B subject to incremental commitments; no amounts outstanding at signing.
- Replaces prior revolving credit facility dated Aug 3, 2016 (expiry Aug 4, 2028); prior facility terminated.
- Interest: Term SOFR + 0.875%-1.625% margin or ABR + 0.000%-0.625%; SOFR floor 1.00%.
- Covenants: Collateral Coverage Test (aircraft pool ≥1.25x commitments) and Coverage Ratio 1.25:1 (option to reduce to 0.80:1 for two quarters).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/92380/000009238026000098/0000092380-26-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/92380/000009238026000098/luv-20260810.htm
  HTML page:      https://secwatch.observer/filing/0000092380-26-000098

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