Delta Air Lines has entered into a new $2.65 billion credit facility to refinance its existing credit agreement from November 2023. The new agreement, dated June 11, 2026, will be used for general corporate purposes and was undrawn at the time of the filing.
Key Details
- Facility Structure: The agreement provides a $2.65 billion revolving facility, split into a $1.325 billion three-year tranche and a $1.325 billion five-year tranche.
- Expansion Option: The facility includes an accordion feature that allows commitments to be increased up to a total of $3.65 billion, subject to certain conditions.
- Financial Covenants: The agreement requires Delta to maintain a minimum fixed charge coverage ratio of 1.25:1 and a minimum asset coverage ratio of 1.25:1.