American Airlines to price $500 million five-year bullet on Thursday

By Paul A. Harris

Portland, Ore., Sept. 18 – American Airlines Group Inc. plans to price a $500 million offering of non-callable five-year senior notes (expected ratings B3/B-) on Thursday trailing a late-morning conference call with investors, according to a syndicate source.

Initial guidance has the deal coming with a yield in the 5½% area, according to a trader.

Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Barclays, BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC are the joint bookrunners.

BNP Paribas Securities Corp. and Credit Agricole CIB are the co-managers.

The Fort Worth, Texas-based company plans to use the proceeds from the Rule 144A and Regulation S for life deal for general corporate purposes.

The commercial airline is a subsidiary of AMR Corp.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.