JetBlue secures $350 million revolver

On April 23, 2013, JetBlue closed a $350 million three-year secured revolving credit and letter of credit facility. Citibank is the administrative agent. “We continue to enhance and optimize our liquidity position through our growing unencumbered asset base and credit facilities, which we believe will be accretive to return on invested capital,” said Mark Powers, JetBlue’s Chief Financial Officer. The facility allows JetBlue to have letters of credit issued up to an aggregate amount of $75 million, in an aggregate amount outstanding at any time of up to $350 million. The facility is undrawn at present. Drawn amounts are priced