SOUTHWEST AIRLINES CO (LUV): debt financing — Southwest Airlines increases term loan facility by $1.0B to $1.5B total outstanding

SOUTHWEST AIRLINES CO

Entered Increase Joinder adding $1.0B incremental term loans; total term loan outstanding now $1.5B.
Uncommitted incremental feature amended to allow up to $1.0B in additional commitments after this increase.
All term loans mature March 11, 2029; prepayment allowed without penalty on three business days' notice.
Loans secured by aircraft and related assets; minimum collateral coverage ratio must be maintained.
Existing $500M revolving credit facility was not amended in connection with this transaction.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SOUTHWEST AIRLINES CO incurred term loan of $1.0 billion with BNP Paribas at same interest rates described in the Original Credit Agreement maturing March 11, 2029.

Instrument: term loan
Principal: $1.0 billion
Counterparty: BNP Paribas
Rate: same interest rates described in the Original Credit Agreement
Maturity: March 11, 2029
Event: incurrence

Exact text from the filing

provides for the extension of additional credit to the Company in the form of incremental term loans in an aggregate principal amount equal to $1.0 billion

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Source: SEC EDGAR

accession 0001193125-26-230895

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