Air T amends Alerus credit agreement, lifts revolving credit commitment to $25 million

Air T entered Amendment No. 7 to its Alerus credit agreement, lifting the revolving credit commitment to $25 million.

Revolving credit termination is set for Aug. 27, 2029; the temporary overline commitment ended.

The accordion feature allows up to $3.5 million extra revolver for one 120-day period each fiscal year, subject to conditions.

The Revolving Note interest floors at 5% or one-month term SOFR plus margin; the unused commitment fee is set at 0.25%.

The Consolidated Term Note is sized at $11.46 million; principal is due monthly through Aug. 15, 2031, with final maturity on Aug. 27, 2031.