Alaska Airlines gets new $160 million credit facility

By Sara Rosenberg

New York, March 30 - Alaska Airlines Inc. closed on a new $160 million variable-rate credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Bank of America is administrative agent, Citicorp is syndication agent and U.S. Bank is documentation agent.

Other banks in the syndicate include HSH Nordbank, Merrill Lynch Capital Corp., Wachovia Bank, RZB Finance and JPMorgan Chase Bank.

Security is either aircraft or cash collateral.

The new facility, which closed March 25, replaces the company's $150 million credit facility that expired in December.

The Seattle-based airline has no immediate plans to draw down borrowings under this new facility, the filing added.

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