---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-25-007343"
form_type: "8-K"
ticker: "DAL"
cik: "0000027904"
company_name: "DELTA AIR LINES, INC."
filed_at: "2025-09-30T23:59:59+00:00"
generated_at: "2026-05-17T05:20:02.237722+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Delta refinances SkyMiles credit facility; extends maturity to 2028, reduces margin to 1.50%

## Summary
- 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.

## SEC filing metadata
- accession: 0001683168-25-007343
- form_type: 8-K
- ticker: DAL
- cik: 0000027904
- company_name: DELTA AIR LINES, INC.
- filed_at: 2025-09-30T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/27904/000168316825007343/0001683168-25-007343-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/27904/000168316825007343/delta_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-007343
- JSON: https://secwatch.observer/filing/0001683168-25-007343.json
- Plain text: https://secwatch.observer/filing/0001683168-25-007343.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/27904/000168316825007343/0001683168-25-007343-index.htm

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