America West plans $75 million convertible

New York, July 23 - America West Airlines Inc. said it plans to sell $75 million of senior exchangeable notes due 2023.

The notes will be guaranteed by America West Holdings Corp. and exchangeable for its class B common stock.

The offering will have a $15 million greenshoe.

America West said $42.9 million of the proceeds will be put in a cash collateral account to secure principal and interest payments through Sept. 30, 2004.

Remaining proceeds will be used for working capital and general corporate purposes, the Phoenix, Ariz. airline said in a news release late Wednesday.

The offering will be made under Rule 144A.

No further details were immediately available.

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