Sun Country Airlines Holdings, Inc. (SNCY): debt financing — Sun Country Airlines enters $75M revolving credit facility, up $50M from prior

Sun Country Airlines Holdings, Inc.

Four-year $75M revolver with UMB Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
Revolver represents $50M increase (200%) over previous facility; proceeds for general corporate purposes.
Borrowings bear interest at SOFR + 2.50%; secured by aircraft, engines, spare parts, and other collateral.
Covenants include minimum unrestricted cash/proceeds/commitments of $55M, min adjusted EBITDAR $110M, and min borrowing base ratio 1.0x.
Revolver guaranteed by Sun Country Airlines Holdings and contains customary cross-default provisions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Sun Country Airlines Holdings, Inc. incurred revolving credit of $75,000,000 with UMB Bank, National Association, as administrative agent, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation, as lenders at SOFR plus a margin of 2.50% maturing four year.

Instrument: revolving credit
Principal: $75,000,000
Counterparty: UMB Bank, National Association, as administrative agent, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation, as lenders
Rate: SOFR plus a margin of 2.50%
Maturity: four year
Event: incurrence

Exact text from the filing

On March 24, 2025, Sun Country, Inc. (the “Borrower”), a wholly-owned subsidiary of Sun Country Airlines Holdings, Inc. (the “Company”), entered into a four year $75,000,000 Revolving Credit Facility (the “Revolver”) with UMB Bank, National Association, as administrative agent, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation, as lenders, and any other lenders named therein.

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Sun Country Airlines Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001743907-25-000013

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