Published on 2/2/2004 in the Prospect News High Yield Daily.
New Issue: American Airlines prices $180 million split-rated spare parts notes to yield 7¼%
By Paul A. Harris
St. Louis, Feb. 2 - American Airlines Inc. priced a split-rated $180.457 million issue of five-year class A spare parts notes (Ba2/BBB-/BBB-) Monday at par to yield 7¼%, a market source said.
Morgan Stanley and Citigroup were underwriters of the Rule 144A issue, which has registration rights.
The air carrier is based in Dallas.
| Issuer: | American Airlines Inc.
|
| Amount: | $180.457
|
| Maturity: | Feb. 5, 2009
|
| Security description: | Class A spare parts notes
|
| Underwriters: | Morgan Stanley, Citigroup
|
| Coupon: | 7¼%
|
| Price: | Par
|
| Yield: | 7¼%
|
| Spread: | 410 basis points
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 5
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
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