Delta Air Lines extends $1.325B revolving credit facility maturity to 2025, shifts to SOFR

DELTA AIR LINES, INC.

Amendment No. 3 extends maturity of $1.325B of the $2.575B revolver from April 2023 to April 2025.
Reference rate transitions from LIBOR to SOFR for revolving borrowings; applicable margins amended.
Remaining $1.25B facility and standby LC facility maturity unchanged; total facility size unchanged.
No other material changes to terms; JPMorgan Chase remains administrative and collateral agent.
Conditions include legal opinions, no event of default, and compliance with collateral coverage test.

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

DELTA AIR LINES, INC. amended Amendment No. 3 with JPMorgan Chase Bank, N.A. valued at $1.325 billion (effective 2022-11-18).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $1.325 billion
Effective: 2022-11-18

Exact text from the filing

On November 18, 2022, Delta Air Lines, Inc. entered into an amendment (“Amendment No. 3”) to its existing revolving credit facility dated April 19, 2018, with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders party thereto (as previously amended, the “Amended Revolving Credit Facility”).

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DELTA AIR LINES, INC. filing history →

Source: SEC EDGAR

accession 0001683168-22-007951

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