New Issue: American Airlines sells $725.69 million of 8.625% 10-year pass-throughs at par

By Andrea Heisinger

New York, Sept. 27 - American Airlines, Inc. priced $725.69 million of 8.625% 10-year class A pass-through trust certificates, series 2011-2 on Tuesday at par, according to a syndicate source.

The certificates (Baa3/A-/) have a final expected distribution date of Oct. 15, 2021 and a final legal distribution date of April 15, 2023. The initial average life is 6.7 years.

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. ran the books for the deal.

Proceeds are being used to purchase equipment notes for new aircraft.

The commercial airline is based in Fort Worth, Texas.

Issuer:	American Airlines, Inc.
Issue:	Class A pass-through trust certificates, series 2011-2
Amount:	$725,694,000
Maturity:	Oct. 15, 2021 (final expected distribution), April 15, 2023 (final legal distribution)
Average life:	6.7 years
Bookrunners:	Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc.
Coupon:	8.625%
Price:	Par
Yield:	8.625%
Trade date:	Sept. 27
Ratings:	Moody's: Baa3
	Standard & Poor's: A-

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