Vertical Horizons amends, restates for increased $365 million loan commitments

By Wendy Van Sickle

Columbus, Ohio, Aug. 14 – Vertical Horizons, Ltd. entered into an amended and restated credit agreement with Citibank, NA as facility agent and arranger on Aug. 11 to provide for increased commitments of $365 million from $270 million, according to an 8-K filing with the Securities and Exchange Commission.

The amended and restated facility also terminates the line of credit borrowing available under the prior credit agreement.

The amended and restated facility came on Aug. 11 in connection with the financing of pre-delivery payments with respect to certain aircraft that Frontier Airlines, Inc., a wholly owned subsidiary of Frontier Group Holdings, Inc., has on order.

Frontier Airlines is a major ultra-low-cost American airline with headquarters in Denver.

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