<a href="https://laohu8.com/S/AIRT">Air T</a> Inc. Secures Amended Financing Agreement with Alerus, Extending Credit Limit to $20 Million and Lowering Interest Rates
Air T Inc. and its subsidiaries have entered into a significant amendment to their existing corporate loan agreements with Alerus Financial, National Association. As of September 3, 2025, the amendment, known as Amendment No. 5, introduces several key changes to the revolving credit agreement. Notably, the interest rate has been decreased to a 1-month SOFR plus 1.90%, and the maturity date has been extended to August 28, 2027. The revolving credit commitment has been increased to a maximum principal amount of $20 million. Additionally, financial covenants will now be measured semi-annually, with the requirement for quarterly financial statements to be delivered to Alerus. The overline note provisions have been eliminated. Furthermore, Term Note A has been amended and restated with a revised interest rate of 1-month SOFR plus 2.00%, and a swap arrangement has been entered into, fixing the rate at 5.62% until its maturity on August 15, 2029.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Air T Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000353184-25-000104), on September 05, 2025, and is solely responsible for the information contained therein.
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