Spirit Aviation borrows $275M revolver, extends card agreement to Dec 2027 with $50M pledge

Spirit Aviation Holdings, Inc.

Borrowed the full $275M available under amended revolving credit facility, maturing Sep 30, 2026.
Amended card processing agreement with USB extending term to Dec 31, 2027 with auto-renewals.
Agreed to transfer $50M cash to pledged account and allow daily holdbacks of up to $3M.
USB removed minimum liquidity trigger for holdbacks in exchange for enhanced collateralization.
Proceeds intended for general corporate purposes and to support liquidity amid the collateral posting requirements.

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