Southwest Airlines adds $1.0 billion term loan, bringing term loans to $1.5 billion
On May 19, 2026, Southwest Airlines entered into an Increase Joinder and First Amendment to its Term Loan Credit Agreement with BNP Paribas acting as administrative and collateral agent. The amendment provides $1.0 billion of incremental term loans, bringing total term loans outstanding to $1.5 billion as of the filing date, and allows up to $1.0 billion more in incremental term loan commitments to be established later. The loans are secured by aircraft and related assets and mature March 11, 2029, so the filing adds secured debt that shareholders should weigh against the company's obligations.
Key points
- First Incremental Term Loans total $1.0 billion; aggregate term loans outstanding are $1.5 billion as of the filing date.
- Term loans mature March 11, 2029 and can be prepaid at any time without premium or penalty on at least three business days' notice.
- Loans are secured by aircraft and related assets, including new assets added in the joinder, subject to a minimum collateral coverage ratio.
- The existing revolving credit facility was not amended.
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 May 19, 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.