Delta Air Lines Said to Seek $2.6 Billion in Loans to Help Refinance Debt
By Krista Giovacco - Mar 29, 2011 11:50 AM CT

inShare
4More Print Email
Delta Air Lines Inc. (DAL), the world’s second-largest carrier, is seeking $2.6 billion in loans to refinance debt, according to a person with knowledge of the matter.

JPMorgan Chase & Co., the bank leading the financing, will host a lender call on March 31 at 11 a.m. in New York, said the person, who declined to be identified because the deal is private.

The first-lien debt includes a $1.225 billion, five-year revolving credit line and a $1.375 billion six-year term loan B, the person said.

First-lien debt is repaid first in a bankruptcy or liquidation, second-lien debt is repaid next.