Air T amends credit agreements: revolver upsized to $20M, covenants streamlined, overline eliminated

AIR T INC

Revolving credit commitment increased to $20M; maturity extended to August 28, 2027.
Term Note A amended to $9.19M; interest rate set at SOFR+2.00% with swap fixing at 5.62%; maturity Aug 15, 2029.
Overline note provisions eliminated; financial covenants now measured semi-annually at Dec and Mar.
Interest rate on revolver lowered to 1-month SOFR+1.90%.
All borrowings remain secured; Air T reaffirms its guarantees and pledges.

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