<a href="https://laohu8.com/S/SAVE">Spirit Airlines</a> Secures $475 Million DIP Financing Agreement Amid Bankruptcy Proceedings
Spirit Airlines Inc. has entered into a new Superpriority Priming Debtor-in-Possession $(DIP)$ Credit Agreement in connection with its Chapter 11 bankruptcy proceedings. The agreement, approved by the Bankruptcy Court on October 31, 2025, provides Spirit Airlines and certain subsidiaries access to up to $475 million in term loans from a group of lenders, with Wilmington Trust, National Association serving as administrative agent. The DIP facility consists of an initial $200 million in new money term loans, with up to an additional $275 million available in subsequent tranches. The facility also allows lenders to exchange a portion of their existing PIK Toggle Senior Secured Notes due 2030 for new Roll-Up Loans under specific terms. The scheduled maturity date for the DIP facility is July 14, 2026, and the loans will bear interest at rates tied to either a base rate or Term SOFR, subject to certain floors.
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