Delta Air Lines said it entered into Amendment No. 2 to the SkyMiles Credit Facility on September 30, 2025 with Barclays Bank PLC, acting as administrative agent and lead arranger and as a lender, with its indirect wholly-owned subsidiary SkyMiles IP Ltd. The original credit facility was dated September 23, 2020.

1. 01

   Delta Air Lines said it entered into Amendment No. 2 to the SkyMiles Credit Facility on September 30, 2025 with Barclays Bank PLC, acting as administrative agent and lead arranger and as a lender, with its indirect wholly-owned subsidiary SkyMiles IP Ltd. The original credit facility was dated September 23, 2020.

2. 02

   The company said it refinanced the existing term loans with replacement term loans that bear interest at a variable rate equal to adjusted term SOFR (with a floor of 0.0% per annum) plus a reduced margin of 1.50% per annum, payable quarterly. It added that interest is paid quarterly.

3. 03

   The company also said the amendment extended the maturity from October 20, 2027 to October 20, 2028 and reduced annual amortization payments from 20.0% to 1.0%, payable quarterly.

4. 04

   Delta said it added a prepayment premium of 1.00% payable in connection with a Repricing Event occurring within 6 months following September 30, 2025. The company said there were no other material changes to the terms of the facility.

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