DELTA AIR LINES, INC.

$2.65bn committed across 1 active facility, next covenant test Sep 30, 2026. DAL

Air Transportation, Scheduled

Recent changes

  1. Jul 10, 2026DELTA AIR LINES, INC. signs $2.65bn CREDIT AGREEMENT, matures Jun 2029SEC ↗
Tested otherHeadroom not yet measured1.25
Permit at any time the ratio (the “Asset Coverage Ratio”) of (i) the Appraised Value of the Pool Assets to (ii) the Total Revolving Extensions of Credit then outstanding ... to be less than 1.25 to 1.00
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.25x
Permit the Fixed Charge Coverage Ratio at the end of any quarterly financial reporting period of the Borrower to be less than 1.25 to 1.00
Read the filing on sec.gov ↗

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CREDIT AGREEMENT

Signed Jun 11, 2026

Committed
$2.65bn
Matures
Jun 2029
Agent
JPMORGAN CHASE BANK, N.A.
TrancheSizeMaturesMargin
LC Tranche Facility$0Jun 2029100–188 bps
2029 Revolving Facility$1.32bnJun 2029100–188 bps
2031 Revolving Facility$1.32bnJun 2031100–188 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level IA3/A-/A- or better100 bps8 bps
Level IIBaa1/BBB+/BBB+113 bps10 bps
Level IIIBaa2/BBB/BBB125 bps13 bps
Level IVBaa3/BBB-/BBB-138 bps18 bps
Level VBa1/BB+/BB+163 bps23 bps
Level VIBa2/BB/BB or worse188 bps28 bps

§1.01

Lenders: JPMORGAN CHASE BANK, N.A., BOFA SECURITIES, INC., BARCLAYS BANK PLC, BNP PARIBAS, CITIBANK, N.A., CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, DEUTSCHE BANK SECURITIES INC., FIFTH THIRD BANK, NATIONAL ASSOCIATION, GOLDMAN SACHS BANK USA, MORGAN STANLEY SENIOR FUNDING, INC., MUFG BANK, LTD., NATIONAL WESTMINSTER BANK PLC

No amendments on file yet.

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