Southwest Airlines enters new $2 billion five-year revolving credit facility with JPMorgan, Citibank agents - LUV News | RalliesSouthwest Airlines enters new $2 billion five-year revolving credit facility with JPMorgan, Citibank agents
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LUV• New revolving credit facility replaces 2016 agreement
- Southwest entered a new $2 billion five-year revolving credit facility on Aug. 10, 2026.
- JPMorgan Chase Bank, N.A. and Citibank, N.A. serve as co-administrative agents; JPMorgan also acts as paying agent.
- The deal replaces a 2016 revolving credit facility, which was terminated on Aug. 10, 2026 and was due to expire Aug. 4, 2028.
- An uncommitted accordion could lift total capacity to $3 billion, subject to incremental lender commitments.
- Matures Aug. 10, 2031; includes a 1.25x collateral coverage test and a minimum 1.25-to-1 coverage ratio covenant.
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