On November 6, 2023, Delta Air Lines, entered into an amended and restated credit agreement.
JPMorgan acted as administrative agent and collateral agent for the lenders.
The A&R Credit Facility refinances a 2018 facility, and contains a $1.325 billion three-year revolving facility, a $1.325 billion five-year revolving facility, and a $360,078,361.60 three-year standby letter of credit facility. Up to $250 million of each of the three-year and the five-year facilities can also be used for the issuance of letters of credit.
The A&R Credit Facility contains an accordion feature under which the aggregate commitments can be increased up to $3.65 billion upon our request and subject to certain conditions.
The facility is secured by a first lien on collateral consistent with the original credit agreement, which includes Delta’s Pacific route authorities and certain related assets. The airline also has the option of pledging aircraft, among other assets, as additional collateral.