Spirit Airlines signed agreement to take $228 million of debt financing from BNP Paribas, as facility agent, and Wilmington Trust Company, as security trustee for one Airbus A320-200 aircraft and five Airbus A321-200 aircraft scheduled for delivery under theSpirit Airline’s existing purchase agreement with Airbus between June 2017 and November 2017. 

Each loan to be extended under the Framework Agreement will be funded on or about the delivery date of each aircraft and will be secured by a first-priority security interest in the individual aircraft.  Each loan will have a 12-year term and will amortize quarterly on a mortgage-style basis.  Loans will bear interest payable quarterly on a floating rate basis; provided that the Company may elect in advance a fixed rate basis. 

Floating rate loans will bear interest at a rate of 3-month LIBOR plus a margin of 1.55% to 1.60% depending on the aircraft.  Fixed rate loans, if elected by the Company, will bear interest based, in part, on the applicable LIBOR swap rate plus the applicable floating rate margin. 

MSN 7690, was delivered on 28 July 2017