secwatch.observer — SEC 8-K summary
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Issuer:     Sun Country Airlines Holdings, Inc. (SNCY)
CIK:        0001743907
Form:       8-K
Filed at:   2025-03-28T23:59:59+00:00
Accession:  0001743907-25-000013
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Sun Country Airlines enters $75M revolving credit facility, up $50M from prior
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1743907/000174390725000013/0001743907-25-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1743907/000174390725000013/sncy-20250324.htm
  HTML page:      https://secwatch.observer/filing/0001743907-25-000013

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