DELTA AIR LINES, INC. (DAL): debt financing — Delta enters $2.65B revolving credit facility, refinances existing credit agreement

DELTA AIR LINES, INC.

$2.65B revolving facility split into $1.325B three-year and $1.325B five-year tranches, plus uncommitted standby LC facility.
Accordion feature allows increase of aggregate commitments up to $3.65B upon request and subject to conditions.
Borrowings bear interest at adjusted term SOFR plus margin; undrawn LCs accrue a fee per annum.
Covenants include minimum fixed charge coverage ratio of 1.25:1 and minimum asset coverage ratio of 1.25:1.
Facility was undrawn at entry; proceeds used to refinance existing credit facility and for general corporate purposes.

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. incurred revolving credit of $2.650 billion revolving facility comprised of a $1.325 billion three-year tranche, a $1.325 billion five-year tranche with JPMorgan Chase Bank, N.A., as administrative agent at adjusted term SOFR, or another index rate, in each case plus a specified margin.

Instrument: revolving credit
Principal: $2.650 billion revolving facility comprised of a $1.325 billion three-year tranche, a $1.325 billion five-year tranche
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: adjusted term SOFR, or another index rate, in each case plus a specified margin
Event: incurrence

Exact text from the filing

The Credit Facility contains a $2.650 billion revolving facility comprised of a $1.325 billion three-year tranche, a $1.325 billion five-year tranche

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

DELTA AIR LINES, INC. entered into Credit Facility with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto valued at $2.650 billion (effective 2026-06-11).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto
Value: $2.650 billion
Effective: 2026-06-11

Exact text from the filing

On June 11, 2026, Delta Air Lines, Inc. (“Delta,” “we,” “us” or “our”) entered into a credit agreement among Delta, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (the “Credit Facility”).

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Source: SEC EDGAR

accession 0001683168-26-004816

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