Item 1.01. Entry into a Material Definitive Agreement.
On June 30, 2022, in connection with the financing of pre-delivery payments with
respect to certain aircraft that Frontier Airlines, Inc. ("Frontier"), a wholly
owned subsidiary of Frontier Group Holdings, Inc. (the "Company"), has on order
(the "PDP Financing Facility"), Vertical Horizons, Ltd., as borrower ("Vertical
Horizons"), entered into an Eighth Amended and Restated Credit Agreement, by and
among Vertical Horizons, Citibank, N.A., as facility agent and arranger
("Citibank"), Bank of Utah, not in its individual capacity but solely as
security trustee ("Security Trustee"), and the lenders from time to time party
thereto (the "Credit Agreement"). The Credit Agreement amended and restated the
Seventh Amended and Restated Credit Agreement, dated as of December 28, 2021, by
among Vertical Horizons, Citibank, the Security Trustee, and the lenders from
time to time party thereto, in its entirety to, among other things, add
additional lenders and increase the commitments under the PDP Financing Facility
from $200 million to $280 million.
In connection with the execution of the Credit Agreement, Frontier entered into
an eighth amended and restated guarantee in favor of the Security Trustee, dated
as of June 30, 2022, Frontier Airlines Holdings, Inc., a wholly owned subsidiary
of the Company, entered into an eighth amended and restated guarantee in favor
of the Security Trustee, dated as of June 30, 2022, and the Company entered into
an amended and restated guarantee in favor of the Security Trustee, dated as of
June 30, 2022.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information provided in Item 1.01 is incorporated herein by reference to the
extent responsive to Item 2.03.
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