Spirit Aviation Holdings, Inc. (FLYYQ): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Spirit Aviation Holdings, Inc. incurred revolving credit of $275.0 million with Citibank, N.A. maturing September 30, 2026.

Instrument: revolving credit
Principal: $275.0 million
Counterparty: Citibank, N.A.
Maturity: September 30, 2026
Event: incurrence

Exact text from the filing

On August 21, 2025, Spirit borrowed the entire available amount of $275.0 million under the Revolving Credit Facility. Borrowings under the Revolving Credit Facility will mature on September 30, 2026.

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Spirit Aviation Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950103-25-010573

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