Air T amends Alerus credit deal, raising revolver to $25.0 million from $20.0 million
On September 1, 2026, Air T and eight subsidiaries entered Amendment No. 7 to their Alerus credit agreement. The amendment raises the revolving commitment from $20.0 million to $25.0 million, ends a temporary overline commitment, and sets the revolver's termination date at August 27, 2029. For shareholders, the filing shows a larger committed credit line and new loan terms, including a 5.00 percentage point interest rate increase upon an event of default.
Key points
- Revolving commitment rises from $20.0 million to $25.0 million, with a termination date of August 27, 2029.
- A $11.46 million Consolidated Term Note combines Term Loan A, Term Loan C and overline loans, with final principal due August 27, 2031.
- Revolver and accordion borrowings bear interest at the greater of 5.00% or one-month term SOFR plus a margin initially set at 2.50%.
- An accordion option allows up to $3.5 million for one 120-day period each fiscal year, subject to a 0.50% origination fee.
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.