Loan & DebtJul 6, 2026, 04:56 PM
Sky Harbour Amends Loan for $20M Opa Locka Project Phase II
AI Summary
Sky Harbour Group Corp's indirect subsidiary, SH Capital II LLC, amended its Term Loan Facility to secure a $20 million borrowing. This funding is designated for the second phase of the construction project at Miami-Opa Locka Executive Airport (OPF Phase II Project). The amendment requires the Company to make cash contributions of not less than $20 million to other borrowers, which can be fulfilled using proceeds from the Series 2026 Bonds. The OPF Phase II Project was not added to the borrowing base of the Term Loan Facility.
Key Highlights
- Secured $20 million OPF Phase II Borrowing.
- Amendment to Draw Down Note Purchase and Continuing Covenant Agreement.
- Funds second phase of Miami-Opa Locka Executive Airport project.
- Requires $20 million cash contribution for Term Loan Facility Replenishment.
- OPF Phase II Project not added to borrowing base.
- Borrowing occurred on June 29, 2026.
Price Impact
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