Southwest Airlines Co. enters $500 million secured term loan maturing March 2029
Southwest Airlines Co. entered into a $500 million senior secured term loan credit agreement with BNP Paribas on March 11, 2026, and drew the full amount at closing. The loan matures March 11, 2029, is secured by certain aircraft and related assets, and bears interest at Term SOFR plus 1.10% or the Alternate Base Rate plus 0.10%. The company's existing revolving credit facility was not amended.
Key points
- Full $500 million drawn at closing; $500 million principal outstanding as of the filing date
- Matures March 11, 2029; can be prepaid without premium on at least three business days' notice, but prepaid amounts cannot be reborrowed
- Secured by a pool of aircraft and related assets subject to a minimum collateral coverage ratio
- Includes an uncommitted feature allowing up to $500 million in additional term loan commitments
The filing
Written by AI on Nov 8, 2026, 12:42 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 March 12, 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.