Southwest Airlines has amended its revolving credit facility agreement with a syndicate of lenders expiring in August 2022, which will extend its maturity to August 3, 2023 and update the pricing with a successor rate to LIBOR as well as amend other covenants including prohibiting the company from making any share buybacks through to September 2022 and to maintain a liquidity of no less than $1.5bn. JPMorgan and Citibank act as co-administrative agents and JPMorgan acts as paying agent and collateral agent under the amended A&R credit agreement.

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