Southwest closes a $1bn secured revolver

Southwest Airlines confirmed on April 2 that it has closed a $1bn revolving credit facility and has terminated the revolving credit facility dated April 28, 2011, which would have expired April 28, 2016. The new $1 billion five-year revolving credit facility agreement was arranged by Citigroup Global Markets and JP Morgan Securities, which also acted as co-administrative agents. Citibank is acting as paying agent, Morgan Stanley is Syndication Agent; Bank of America, Barclays Bank, Deutsche Bank Securities, Goldman Sachs, and Wells Fargo are Documentation Agents. BNP Paribas, Comerica and US Bank also participated in the syndicate of lending banks. The