Southwest Airlines entered into a new $1 billion five-year revolving credit facility agreement with a syndicate of lenders led by JPMorgan Chase and Citibank as co-administrative agents. The credit agreement has an accordion feature that would allow the company to increase the size of facility to $1.5 billion.
According to a related 8-K filing, Barclays Bank served as syndication agent while Bank of America, BNP Paribas, Goldman Sachs USA, Morgan Stanley Senior Funding, U.S. Bank and Wells Fargo served as documentation agents. Citigroup Global Markets and JPMorgan Chase served as joint lead arrangers and joint bookrunners.
The airline noted that the new agreement terminated a revolving credit facility dated as of Apr 2, 2013, with a syndicate of banks including Citibank and JPMorgan Chase.
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