Published on 7/27/2009 in the Prospect News High Yield Daily.
New Issue: American Airlines prices $276.4 million seven-year secured notes at par to yield 13%
By Paul A. Harris
St. Louis, July 27 - American Airlines, Inc. has priced a $276.4 million issue of non-rated seven-year secured notes at par to yield 13%, according to an informed source.
Morgan Stanley and Stifel Nicholas were the underwriters for the Rule 144A deal.
The deal was priced off the investment grade syndicate desk, according to a market source.
| Issuer: | American Airlines, Inc.
|
| Amount: | $276.4 million
|
| Maturity: | Aug. 1, 2016
|
| Underwriters: | Morgan Stanley, Stifel Nicholas
|
| Coupon: | 13%
|
| Price: | Par
|
| Yield: | 13%
|
| Settlement date: | July 31
|
| Ratings: | Non-rated
|
| Distribution: | Rule 144A
|
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