AIR Global PLC Form 6-K — Oct 1, 2026
AIR Global PLC filed a 6-K on October 1, 2026 containing the indenture governing new notes issued by AIR Limited, marking the debt-financing leg of the company's De-SPAC-related capital structure. The filing defines the group's existing bank debt: a $480.2 million senior facilities package split between a $405.2 million amortizing term loan and a $75.0 million revolver, dated March 5, 2025. The indenture includes a make-whole style Applicable Redemption Premium (greater of 1.0% of principal or a present-value calculation benchmarked to October 1, 2028) and covenants keyed to Consolidated Net Leverage and Fixed Charge Coverage ratios with EBITDA add-backs capped at 25%.
Key figures
- Debt Amount
- $480.2 million (2025 Senior Facilities Agreement, aggregate senior secured credit facilities)
- Maturity Date
- October 1, 2028 (redemption pricing reference date for the Notes)
- Issue date
- October 1, 2026
- General lien basket
- greater of $35.0 million and 25.0% of Consolidated Adjusted EBITDA
- Management advances cap
- $5.0 million
- Redemption premium floor
- 1.0% of principal
- Existing term loan facility
- $405.2 million
- Asset sale de minimis basket
- greater of $18.0 million and 12.5% of Consolidated Adjusted EBITDA
- Existing revolving credit facility
- $75.0 million
AI analysis
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