secwatch.observer — SEC 8-K summary
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Issuer:     DELTA AIR LINES, INC. (DAL)
CIK:        0000027904
Form:       8-K
Filed at:   2026-06-12T20:30:45+00:00
Accession:  0001683168-26-004816
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Delta enters $2.65B revolving credit facility, refinances existing credit agreement
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/27904/000168316826004816/0001683168-26-004816-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/27904/000168316826004816/delta_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-004816

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