---
schema_version: "secwatch.filing_event.v1"
accession: "0001498710-22-000364"
form_type: "8-K"
ticker: "FLYYQ"
cik: "0001498710"
company_name: "Spirit Aviation Holdings, Inc."
filed_at: "2022-11-17T23:59:59+00:00"
generated_at: "2026-06-21T16:37:25.905528+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Spirit Airlines closes $600M add-on 8% senior secured notes due 2025, refinances EETC maturities

## Summary
- Issued $600M of 8.00% senior secured notes due Sept 2025; total notes outstanding ~$1.11B.
- Proceeds to repay $5.11% 2017-1C EETC (Feb 2023) and $4.93% 2015-1C EETC (Apr 2023) and for general corporate purposes.
- Notes secured by loyalty program assets (Free Spirit cash proceeds, Saver$ Club fees) and brand IP.
- Indenture requires Spirit to maintain minimum liquidity of $400M at all times.
- Notes issued by Spirit IP Cayman and Spirit Loyalty Cayman; guaranteed by parent and Cayman subsidiaries.

## SEC filing metadata
- accession: 0001498710-22-000364
- form_type: 8-K
- ticker: FLYYQ
- cik: 0001498710
- company_name: Spirit Aviation Holdings, Inc.
- filed_at: 2022-11-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1498710/000149871022000364/0001498710-22-000364-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1498710/000149871022000364/save-20221117.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001498710-22-000364
- JSON: https://secwatch.observer/filing/0001498710-22-000364.json
- Plain text: https://secwatch.observer/filing/0001498710-22-000364.txt

## Key facts
- Debt Financings
  Spirit Aviation Holdings, Inc. incurred senior notes of $600 million at 8.00% per annum maturing September 20, 2025.
  - Instrument: senior notes
  - Principal: $600 million
  - Rate: 8.00% per annum
  - Maturity: September 20, 2025
  - Event: incurrence
  source text: On November 17, 2022, Spirit Airlines, Inc. (the “Company”) announced the completion of the private offering by Spirit IP Cayman Ltd., an indirect wholly-owned subsidiary of the Company (the “Brand Issuer”), and Spirit Loyalty Cayman Ltd., an indirect wholly-owned subsidiary of the Company (the “Loyalty Issuer” and, together with the Brand Issuer, the “Issuers”) of an aggregate of $600 million principal amount of 8.00% senior secured notes due 2025 (the “Additional Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000149871022000364/0001498710-22-000364-index.htm
- Material Agreements
  Spirit Aviation Holdings, Inc. entered into First Supplemental Indenture with Wilmington Trust, National Association valued at $600 million (effective 2022-11-17).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Wilmington Trust, National Association
  - Value: $600 million
  - Effective: 2022-11-17
  source text: The Additional Notes were issued pursuant to the Existing Indenture, as supplemented by the First Supplemental Indenture, dated as of November 17, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000149871022000364/0001498710-22-000364-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.