SOUTHWEST AIRLINES CO (LUV): debt financing — Southwest Airlines enters $500M term loan facility secured by aircraft

SOUTHWEST AIRLINES CO

$500M senior secured term loan drawn in full on March 11, 2026.
Matures March 11, 2029; prepayable without penalty on 3 business days' notice.
Interest at Term SOFR + 1.10% or ABR + 0.10%, with floors of 0.00% and 1.00% respectively.
Secured by aircraft and related assets; includes an uncommitted incremental term loan feature up to $500M.
Existing revolving credit facility unaffected.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

SOUTHWEST AIRLINES CO incurred term loan of $500 million with BNP Paribas at Term SOFR plus 1.10% per annum or Alternate Base Rate plus 0.10% per annum; Term maturing March 11, 2029.

Instrument: term loan
Principal: $500 million
Counterparty: BNP Paribas
Rate: Term SOFR plus 1.10% per annum or Alternate Base Rate plus 0.10% per annum; Term
Maturity: March 11, 2029
Event: incurrence

Exact text from the filing

On March 11, 2026, Southwest Airlines Co. (the “Company”) entered into a new term loan credit agreement (the “Term Loan Credit Agreement”) with BNP Paribas, as administrative and collateral agent (the “Agent”) and as the initial lender (together with any additional lenders from time to time, the “Lenders”), providing for a $500 million dollar senior secured term loan credit facility (the “Term Loan Facility”) that was drawn in full on the closing date.

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Source: SEC EDGAR

accession 0001193125-26-102966

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