easyJet successfully issues GBP600m CCFF short-term note, requests USD500m RCF drawdown

easyJet announced (06-Apr-2020) it successfully issued a GBP600 million Commercial Paper through the COVID-19 Corporate Financing Facility (CCFF). easyJet also issued a utilisation request to fully draw down on its USD500 million Revolving Credit Facility (RCF), secured against aircraft assets. As a result of the issues, the LCC is expected to have access to cash reserves totalling GBP2.3 billion from 09-Apr-2020 in response to the COVID-19 outbreak. easyJet added that given the possibility of a prolonged grounding due to the virus, it will continue to consider future additional liquidity and funding options. [more - original PR]