United Airlines Holdings, Inc. (UAL): debt financing — United Airlines enters amended credit facilities: revolver upsized to $2.865B, new $2.5B term loan with reduced margin

borrowed the entire term loan commitment available under the Term Loan Facility in an amount equal to $2.5 billion

The Revolving Credit Facility provides revolving loan commitments (any loans made thereunder, the “Revolving Loans”) of up to $2.865 billion

On February 15, 2024, United Airlines Holdings, Inc. (“UAL”) and United Airlines, Inc. (“United” and, together with UAL, the “Company,” “we,” “us” or “our”) entered into an Amended and Restated Revolving Credit and Guaranty Agreement (the “Revolving Credit Facility”), among United, as borrower, UAL, as parent and guarantor, the subsidiaries of UAL other than United party thereto from time to time, as guarantors, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and Wilmington Trust, National Association, as collateral trustee (the “Collateral Trustee”), which amends and restates in its entirety that certain Revolving Credit and Guaranty Agreement, dated as of April 21, 2021 (as in effect immediately prior to being amended by the Revolving Credit Facility, the “Existing Credit Facility”).

On February 22, 2024, the Company also entered into Amendment No. 2 to Term Loan Credit and Guaranty Agreement (as amended, the “Term Loan Facility” and, together with the Revolving Credit Facility, the “Loan Facilities”), among United, as borrower, UAL, as parent and guarantor, and JPMorgan Chase Bank, N.A., as fronting lender and replacement lender and as administrative agent, pursuant to which that certain Term Loan Credit and Guaranty Agreement, dated as of April 21, 2021 (as in effect immediately prior to being amended by the Term Loan Facility, the “Existing Term Loan Facility”), was amended and restated.