Macquarie Infrastructure Corporation entered into a senior secured revolving credit facility among the Company, as borrower, MIC Ohana Corporation, as guarantor, J.P. Morgan Chase Bank, N.A., as administrative agent and the lenders party thereto. The Credit Agreement provides borrowings of up to $600.0 million and will mature on January 3, 2022.

As previously disclosed, in December 2018, Atlantic Aviation FBO Inc. (“AA FBO”), a wholly-owned indirect subsidiary of the Company, entered into a credit agreement among AA FBO, Atlantic Aviation FBO Holdings LLC, the direct parent of AA FBO, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and the several lenders party thereto (the “AA Credit Agreement”). The AA Credit Agreement provides for a $1,025.0 million senior secured first lien term loan facility maturing in December 2025 and $350.0 million senior secured first lien revolving credit facility maturing in December 2023.

On March 17, 2020, the Company provided notice to the lenders to borrow $599.0 million under the Credit Agreement. On March 16, 2020, AA FBO provided notice to the lenders to borrow $275.0 million under the revolving credit facility portion of the AA Credit Agreement. The Company and AA FBO borrowed on these facilities to increase their cash positions and preserve financial flexibility in light of current uncertainty in the global markets resulting from the coronavirus disease (“COVID-19”) outbreak. The proceeds from these borrowings will be available to be used for working capital, general corporate or other purposes. The Company notes that it has no immediate liquidity needs and has no meaningful debt maturities until 2022.

The proceeds from the incremental revolving credit facility borrowings result in the Company, including indirect subsidiaries, having total cash and cash equivalents of approximately $1.1 billion as of March 18, 2020.