American Airlines increases revolving commitments to $2.84 billion

By Sarah Lizee

Olympia, Wash., Dec. 11 – American Airlines, Inc. and American Airlines Group Inc. entered into amendments to three credit agreements on Monday to increase their total revolving credit facilities by $342.5 million, resulting in total revolving credit facilities of $2,842,500,000, according to an 8-K filing with the Securities and Exchange Commission.

The amended credit agreements include the April 2016 credit agreement, 2013 credit agreement and 2014 credit agreement.

The maturity date for each credit agreement was extended to Oct. 13, 2023 from Oct. 13, 2022.

Also, the margin over Libor for revolving loans under each credit agreement was lowered to 200 basis points from 225 bps.

The 2013 credit agreement with Deutsche Bank AG New York Branch as administrative agent was amended to reduce revolving commitments to $1 billion from $1.2 billion.

The 2014 credit agreement with Citibank, NA as administrative agent was amended to increase revolving commitments to $1,542,500,000 from $1 billion.

As of Monday, there were no borrowings or letters of credit outstanding under any of the facilities.

American Airlines is a Fort Worth-based airline company.

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