Spirit Airlines extends revolver to 2025, adds change-of-control option

Chicago, Nov. 14 – Spirit Airlines, Inc. entered a third amendment on Nov. 10 regarding its senior secured revolving credit facility from March 30, 2020 with Citibank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends the final maturity to Sept. 30, 2025.

Further, the minimum liquidity covenant has been increased to $450 million. A provision has also been included that in the event the merger with JetBlue Airways Corp. is consummated, each lender will have a right to require repayment.

Wilmington Trust, NA is the collateral agent.

Spirit Airlines is a Miramar, Fla.-based low-fare airline.

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