American Airlines driving by with $350 million three-year bullet; initial talk 5%-5¼%

By Paul A. Harris

Portland, Ore., May 16 – American Airlines Group Inc. plans to price a $350 million offering of three-year senior bullet notes (B1/BB-) in a Thursday drive-by, according to market sources.

Early guidance has the deal coming to yield 5% to 5¼%, a trader said.

J.P. Morgan Securities LLC is piloting the Rule 144A and Regulation S transaction.

The Fort Worth-based air carrier plans to use the proceeds to fund contributions to its pension fund.

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