On November 18, 2022, Delta Air Lines amended its existing revolving credit facility dated April 19, 2018, with JPMorgan Chase (administrative agent and collateral agent). Delta has extended the maturity of a portion of the $1.325 billion of the revolving loans and commitments available for borrowing under the facility from April 2023 to April 2025. The maturity of the remaining $1.25 billion facility and the standby letter of credit facility remains unchanged.
The amendment also transitions the reference rate for the revolving borrowings from LIBOR to the secured overnight financing rate (SOFR) and amends the applicable margins.