JetBlue draws down new $1bn credit facility 

Due to the dramatic loss of revenue, JetBlue has secured a new liquidity facility. On March 13, 2020, JetBlue entered into a delayed draw term loan credit agreement that provides for a term loan facility of up to $1bn. JetBlue has drawn down the full amount to use the proceeds for general corporate purposes. The term loans are priced at a variable rate equal to LIBOR (but not less than 1% per annum), plus a margin of 1.75% per annum, or at JetBlue’s election, another rate based on certain market interest rates. The loans are secured on liens on a