secwatch.observer — SEC 8-K summary
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Issuer:     Sun Country Airlines Holdings, Inc. (SNCY)
CIK:        0001743907
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001140361-23-013997
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Sun Country enters $119.2M term loan facility to acquire five Boeing 737-900ER aircraft
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- Term loan of $119.2M to acquire five Boeing 737-900ER aircraft from an unaffiliated third party.
- Aircraft currently on lease to another airline; leases expire Nov 2024, May 2025, Nov 2025, Mar 2025, May 2025.
- Interest: SOFR + 0.10% credit spread + 3.75% margin while leased, 3.25% while not leased.
- Maturity March 21, 2030; monthly amortization starting April 23, 2023. No prepayment penalty.
- Loan secured by aircraft and leases; customary covenants, no limit on unsecured debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1743907/000114036123013997/0001140361-23-013997-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1743907/000114036123013997/brhc10050332_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-013997

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