Jan 8 (Reuters) - UK airline EasyJet announced
file:///C:/Users/6108229/AppData/Local/Microsoft/Windows/INetCac
he/Content.Outlook/TY17IR7M/UKEF%20RNS%20(Final).pdf a new
five-year term loan facility of $1.87 billion (c.£1.4 billion)
on Friday, which will be secured on aircraft upon drawing.
"This facility will significantly extend and improve
EasyJet’s debt maturity profile and increase the level of
liquidity available," CEO Johan Lundgren said in a statement.
The facility is underwritten by a syndicate of banks and
supported by a partial guarantee from UK Export Finance under
their Export Development Guarantee scheme, the airline said.
The airline had taken a 600 million pound loan from the UK
government, cut 4,500 jobs and tapped shareholders for 419
million pounds last year to survive the impact of the pandemic.
The company said that during the first quarter of this year,
it will repay part of its shorter term debt, namely the fully
drawn Revolving Credit Facility of $500 million and Term Loans
of c.£400 million, adding that this will free up a number of
aircraft assets.
(Reporting by Vishal Vivek in Bengaluru; Editing by David
Gregorio)
easyJet (EZJ)
