---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-126982"
form_type: "8-K"
ticker: "AIR"
cik: "0000001750"
company_name: "AAR CORP"
filed_at: "2022-12-14T23:59:59+00:00"
generated_at: "2026-06-21T04:50:31.512835+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# AAR Corp enters $620M unsecured revolver, replaces 2011 credit facility

## Summary
- $620M unsecured revolving credit facility; Wells Fargo as admin agent; matures Dec 14, 2027.
- Interest at SOFR + 112.5-200 bps or Base Rate + 12.5-100 bps based on financial metrics.
- Facility can be increased by up to $300M to $920M total under certain conditions.
- 2011 credit agreement with Bank of America terminated; borrowings rolled over with no material penalties.
- Covenants include minimum interest coverage and maximum debt-to-EBITDA ratios.

## SEC filing metadata
- accession: 0001104659-22-126982
- form_type: 8-K
- ticker: AIR
- cik: 0000001750
- company_name: AAR CORP
- filed_at: 2022-12-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750/000110465922126982/0001104659-22-126982-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750/000110465922126982/tm2232722d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-126982
- JSON: https://secwatch.observer/filing/0001104659-22-126982.json
- Plain text: https://secwatch.observer/filing/0001104659-22-126982.txt

## Key facts
- Debt Financings
  AAR CORP incurred credit facility of $620 million with Wells Fargo Bank, N.A. at SOFR plus 112.5 to 200 basis points maturing December 14, 2027.
  - Instrument: credit facility
  - Principal: $620 million
  - Counterparty: Wells Fargo Bank, N.A.
  - Rate: SOFR plus 112.5 to 200 basis points
  - Maturity: December 14, 2027
  - Event: incurrence
  source text: On December 14, 2022, AAR CORP. (the “Company”) entered into a credit agreement with various financial institutions, as lenders and Wells Fargo Bank, N.A., as administrative agent for the lenders (the “Credit Agreement”). The Credit Agreement creates a $620 million unsecured revolving credit facility that the Company can draw upon for working capital and general corporate purposes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750/000110465922126982/0001104659-22-126982-index.htm
- Material Agreements
  AAR CORP entered into Credit Agreement with Wells Fargo Bank, N.A., as administrative agent for the lenders valued at $620 million (effective 2022-12-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, N.A., as administrative agent for the lenders
  - Value: $620 million
  - Effective: 2022-12-14
  source text: On December 14, 2022, AAR CORP. (the “Company”) entered into a credit agreement with various financial institutions, as lenders and Wells Fargo Bank, N.A., as administrative agent for the lenders (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750/000110465922126982/0001104659-22-126982-index.htm
- Material Agreements
  AAR CORP terminated 2011 Credit Agreement with Bank of America, N.A., as administrative agent (effective 2022-12-14).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent
  - Effective: 2022-12-14
  source text: On December 14, 2022, the Company terminated its credit agreement dated April 12, 2011, as amended, between the Company and various financial institutions, as lenders and Bank of America, N.A., as administrative agent (the “2011 Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750/000110465922126982/0001104659-22-126982-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.