Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Sun Country Airlines Holdings, Inc. incurred term loan of $119,200,000 with the lenders party thereto and UMB Bank, National Association, as facility agent, security trustee and account bank at term secured overnight funding rate (“SOFR”) (subject to a floor of 0.00%), plus maturing March 21, 2030.
- Instrument
- term loan
- Principal
- $119,200,000
- Counterparty
- the lenders party thereto and UMB Bank, National Association, as facility agent, security trustee and account bank
- Rate
- term secured overnight funding rate (“SOFR”) (subject to a floor of 0.00%), plus
- Maturity
- March 21, 2030
- Event
- incurrence
Exact text from the filing
On March 21, 2023, Sun Country Airlines Holdings, Inc. (“Holdings,” the “Company,” “we,” “us” or “our”) entered into a $119,200,000 Term Loan Facility Agreement among the Sun Country Holdings, Sun Country, Inc. (D/B/A Sun Country Airlines) (“Sun Country”), the lenders party thereto and UMB Bank, National Association, as facility agent, security trustee and account bank (The “Term Loan Facility”). The proceeds of the Term Loan Facility will be used to acquire five Boeing 737-900ER aircraft from an unaffiliated third-party (the “Aircraft”). The Aircraft are currently on lease to an unaffiliated airline and will remain on lease with them until the leases expire on November 30, 2024, May 31, 2025, November 30, 2025, March 31, 2025 and May 31, 2025 at which time they will join the Sun Country fleet. The obligations of Sun Country and Holdings under the Term Loan Facility are primarily secured by the Aircraft and, so long as the Aircraft are on lease, the associated leases, including mainten
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Sun Country Airlines Holdings, Inc. entered into Term Loan Facility with UMB Bank, National Association, as facility agent, security trustee and account bank valued at $119,200,000 (effective 2023-03-21).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- UMB Bank, National Association, as facility agent, security trustee and account bank
- Value
- $119,200,000
- Effective
- 2023-03-21
Exact text from the filing
On March 21, 2023, Sun Country Airlines Holdings, Inc. (“Holdings,” the “Company,” “we,” “us” or “our”) entered into a $119,200,000 Term Loan Facility Agreement among the Sun Country Holdings, Sun Country, Inc. (D/B/A Sun Country Airlines) (“Sun Country”), the lenders party thereto and UMB Bank, National Association, as facility agent, security trustee and account bank (The “Term Loan Facility”).
View on SEC.gov