DELTA AIR LINES, INC. (DAL): debt financing — Delta refinances SkyMiles credit facility; extends maturity to 2028, reduces margin to 1.50%

DELTA AIR LINES, INC.

Refinanced existing SkyMiles term loans with replacement loans at adjusted SOFR + 1.50% margin (floor 0.0%).
Maturity extended from Oct 20, 2027 to Oct 20, 2028.
Annual amortization reduced from 20% to 1% per year, payable quarterly.
Added 1.00% prepayment premium for Repricing Event within six months of Sept 30, 2025.

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

DELTA AIR LINES, INC. amended term loan with Barclays Bank PLC at adjusted term SOFR (but not less than 0.0% per annum), plus a reduced margin of maturing October 20, 2028.

Instrument: term loan
Counterparty: Barclays Bank PLC
Rate: adjusted term SOFR (but not less than 0.0% per annum), plus a reduced margin of
Maturity: October 20, 2028
Event: amendment

Exact text from the filing

Amendment No. 2 amends the SkyMiles Credit Facility to, among other things, (i) refinance the facility’s existing term loans with the proceeds of replacement term loans bearing interest at a variable rate equal to an adjusted term SOFR (but not less than 0.0% per annum), plus a reduced margin of 1.50% per annum, payable quarterly; (ii) extend the scheduled maturity of the facility from October 20, 2027 to October 20, 2028; (iii) reduce the amortization payments from 20.0% to 1.0% per year, payable quarterly; and (iv) add a prepayment premium of 1.00% payable in connection with a Repricing Event

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Source: SEC EDGAR

accession 0001683168-25-007343

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