Sun Country Airlines has entered into a four-year $75 million revolving credit facility (RCF).
This new credit facility marks a $50 million increase of Sun Country’s previous credit line, with these funds being used for general corporate purposes.
The facility is secured by assets such as airframes, engines, spare parts, simulators and cash equivalents, with borrowings under the revolver bearing interest at SOFR plus a margin of 2.50%.
In addition, the company must also maintain at least $55 million in cash, investments or available credit, a minimum adjusted EBITDAR of $110 million over any four consecutive quarters and a borrowing base that matches or exceeds the loan amount.
If Sun Country defaults, lenders could demand immediate repayment and terminate the credit line. UMB Bank served as the administrative agent and MUFG Bank and Sumitomo Mitsui Banking acted as the lenders.
Full details of this agreement will be available in Sun Country’s quarterly report for the first quarter of 2025.