By Andrea Heisinger
New York, June 30 - American Airlines Inc. sold $520.11 million of 10.375% class A pass-through certificates (Baa3/A-/), according to an FWP filing with the Securities and Exchange Commission.
The issue priced at par to yield 10.375% with a make-whole call at Treasuries plus 75 basis points.
The notes have an initial maturity of July 2, 2019 and a final maturity of Jan. 2, 2021.
The average life is 7.3 years.
Bookrunners were Goldman Sachs & Co. and Morgan Stanley & Co. Inc. The co-manager was Calyon Securities.
Proceeds will be used to take delivery of new aircraft.
The commercial airline is based in Fort Worth, Texas.
| Issuer: | American Airlines Inc.
|
| Issue: | Class A pass-through certificates
|
| Amount: | $520.11 million
|
| Maturity: | July 2, 2019 (initial), Jan. 2, 2021 (final)
|
| Average life: | 7.3 years
|
| Bookrunners: | Goldman Sachs & Co., Morgan Stanley & Co. Inc.
|
| Co-manager: | Calyon Securities
|
| Coupon: | 10.375%
|
| Price: | Par
|
| Yield: | 10.375%
|
| Call: | Make-whole at Treasuries plus 75 bps
|
| Trade date: | June 29
|
| Settlement date: | July 7
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: A-
|
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