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American Airlines | 8-K: Entering into the Amended and Restated Credit and Guaranty Agreement

SEC ·  Jun 5 04:41

Summary by Futu AI

On June 4, 2024, American Airlines Group Inc. (AAG) and its subsidiary American Airlines, Inc. entered into a series of amendments to their credit agreements, resulting in a total of $2,890 million in aggregate revolving commitments. The amendments included the Tenth Amendment to the 2014 Credit Agreement, which established $1,500 million in new revolving credit commitments and $200 million in new letter of credit commitments, with a single maturity date of June 4, 2029. The Ninth Amendment to the 2013 Credit Agreement similarly established $500 million in new revolving credit commitments and $100 million in letter of credit commitments, also maturing on June 4, 2029. Additionally, the First and Second Amendments to the 2023 Credit Agreement were executed, creating a $890 million revolving credit facility and replacing the initial term loans with new term loans of the same principal amount, respectively. These amendments also adjusted interest rates and financial covenant thresholds. Concurrently, the company terminated all existing commitments under the April 2016 Credit Agreement. The changes were made to improve the company's financial flexibility and were detailed in the company's filings with the SEC.
On June 4, 2024, American Airlines Group Inc. (AAG) and its subsidiary American Airlines, Inc. entered into a series of amendments to their credit agreements, resulting in a total of $2,890 million in aggregate revolving commitments. The amendments included the Tenth Amendment to the 2014 Credit Agreement, which established $1,500 million in new revolving credit commitments and $200 million in new letter of credit commitments, with a single maturity date of June 4, 2029. The Ninth Amendment to the 2013 Credit Agreement similarly established $500 million in new revolving credit commitments and $100 million in letter of credit commitments, also maturing on June 4, 2029. Additionally, the First and Second Amendments to the 2023 Credit Agreement were executed, creating a $890 million revolving credit facility and replacing the initial term loans with new term loans of the same principal amount, respectively. These amendments also adjusted interest rates and financial covenant thresholds. Concurrently, the company terminated all existing commitments under the April 2016 Credit Agreement. The changes were made to improve the company's financial flexibility and were detailed in the company's filings with the SEC.

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