easyJet announced the continued strengthening of its liquidity position with the signing of a new five-year term loan facility of $1.87 billion (£1.4 billion) underwritten by a syndicate of banks and supported by a partial guarantee from UK Export Finance under their Export Development Guarantee scheme. The Export Development Guarantee scheme for commercial loans is available to qualifying UK companies, does not carry preferential rates or require state aid approval, and contains some restrictive covenants including around dividend payments, however these are compatible with easyJet's existing dividend policy. This five-year facility will be secured on aircraft upon drawing and will significantly extend and improve easyJet's debt maturity profile and strengthen easyJet's balance sheet by increasing the level of available liquidity. easyJet is also announcing that during calendar first quarter it will repay and cancel part of its shorter term debt, namely the fully drawn Revolving Credit Facility of $500 million and Term Loans of £400 million. This will free up a number of aircraft assets to further strengthen easyJet's balance sheet. As previously indicated, easyJet will continue to review its liquidity position on a regular basis and will continue to assess further funding opportunities, should the need arise.