--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-24-026564" form_type: "8-K" ticker: "UAL" cik: "0000100517" company_name: "United Airlines Holdings, Inc." filed_at: "2024-02-22T23:59:59+00:00" generated_at: "2026-06-05T18:02:38.203612+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # United Airlines enters amended credit facilities: revolver upsized to $2.865B, new $2.5B term loan with reduced margin ## Summary - Revolving credit facility increased by $1.115B to $2.865B; $2.7B of commitments mature Feb 2029, $165M mature Apr 2025. - Existing term loan prepaid by $1.37B cash; new $2.5B term loan borrowed, maturity Feb 2031, interest margin reduced by 1.00%. - Financial covenants: Minimum Collateral Coverage Ratio of 1.60:1 and Minimum Liquidity of $2.0B. - No drawings under the new revolver as of filing date; proceeds used for general corporate purposes. ## SEC filing metadata - accession: 0001104659-24-026564 - form_type: 8-K - ticker: UAL - cik: 0000100517 - company_name: United Airlines Holdings, Inc. - filed_at: 2024-02-22T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/100517/000110465924026564/0001104659-24-026564-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100517/000110465924026564/tm246340d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-24-026564 - JSON: https://secwatch.observer/filing/0001104659-24-026564.json - Plain text: https://secwatch.observer/filing/0001104659-24-026564.txt ## Key facts - Debt Financings United Airlines Holdings, Inc. incurred term loan of $2.5 billion with JPMorgan Chase Bank, N.A. at Term SOFR plus 2.75%. - Instrument: term loan - Principal: $2.5 billion - Counterparty: JPMorgan Chase Bank, N.A. - Rate: Term SOFR plus 2.75% - Event: incurrence source text: borrowed the entire term loan commitment available under the Term Loan Facility in an amount equal to $2.5 billion evidence_url: https://www.sec.gov/Archives/edgar/data/100517/000110465924026564/0001104659-24-026564-index.htm - Debt Financings United Airlines Holdings, Inc. incurred revolving credit of up to $2.865 billion with CPUs at Term SOFR plus credit adjustment spread and variable margin maturing February 15, 2029. - Instrument: revolving credit - Principal: up to $2.865 billion - Counterparty: CPUs - Rate: Term SOFR plus credit adjustment spread and variable margin - Maturity: February 15, 2029 - Event: incurrence source text: The Revolving Credit Facility provides revolving loan commitments (any loans made thereunder, the “Revolving Loans”) of up to $2.865 billion evidence_url: https://www.sec.gov/Archives/edgar/data/100517/000110465924026564/0001104659-24-026564-index.htm - Material Agreements United Airlines Holdings, Inc. entered into Amended and Restated Revolving Credit and Guaranty Agreement with JPMorgan Chase Bank, N.A. valued at $2.865 billion revolving loan commitments (effective 2024-02-15). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A. - Value: $2.865 billion revolving loan commitments - Effective: 2024-02-15 source text: 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”). evidence_url: https://www.sec.gov/Archives/edgar/data/100517/000110465924026564/0001104659-24-026564-index.htm - Material Agreements United Airlines Holdings, Inc. entered into Amendment No. 2 to Term Loan Credit and Guaranty Agreement with JPMorgan Chase Bank, N.A. valued at $2.5 billion term loan commitment (effective 2024-02-22). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A. - Value: $2.5 billion term loan commitment - Effective: 2024-02-22 source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/100517/000110465924026564/0001104659-24-026564-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.