Spirit Airlines extends revolver maturity to Sept 2025, raises liquidity covenant to $450M

Spirit Aviation Holdings, Inc.

Third Amendment to Credit and Guaranty Agreement entered into on November 10, 2023.
Maturity of revolving credit facility extended to September 30, 2025.
Minimum liquidity covenant increased to $450 million.
If JetBlue merger is consummated, each lender can require repayment of outstanding loans.
Other material terms unchanged and described in prior 8-K filings.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Spirit Aviation Holdings, Inc. amended Third Amendment to Credit and Guaranty Agreement with Citibank, N.A. and Wilmington Trust, National Association (effective 2023-11-10).

Action: amendment
Agreement: credit facility
Counterparty: Citibank, N.A. and Wilmington Trust, National Association
Effective: 2023-11-10

Exact text from the filing

On November 10, 2023, the Company entered into the Third Amendment to Credit and Guaranty Agreement, which modifies the Revolving Credit Facility to, among other things, extend the final maturity of the Revolving Credit Facility to September 30, 2025, increase the minimum liquidity covenant to $450,000,000, and include a provision that, in the event the merger with JetBlue Airways Corporation is consummated, each lender under the Revolving Credit Facility has the right to require the Company to repay any outstanding loan that it has made under the Revolving Credit Facility.

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Spirit Aviation Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001498710-23-000196

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