American Airlines to prepay $261 million special facility revenue bonds

By Tali Rackner

Norfolk, Va., July 24 – American Airlines Group Inc. announced in June that it plans to prepay $261 million of its obligations associated with special facility revenue bonds in the third quarter, of which $106 million is reflected as debt on the balance sheet, according to a 10-Q filing with the Securities and Exchange Commission

The company also said that in June, it prepaid $51 million of obligations issued by municipalities, of which $29 million was reflected as debt on the balance sheet.

In addition, American said it settled in cash all of the outstanding 7.25% convertible notes in May for about $175 million. The bonds were issued by US Airways Group, Inc.

Furthermore, the company called all of its remaining $900 million principal amount of 7½% senior notes due March 15, 2016, according to a press release.

The American Airlines holding company is based in Fort Worth.

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