By Andrea Heisinger
New York, March 12 - American Airlines, Inc. priced $663.378 million of enhanced equipment trust certificates class A and class B tranches, according to a form 8-K filing with the Securities and Exchange Commission.
The sale included $506.7 million of 4% class A certificates (/BBB-/BBB+) with an expected maturity of July 15, 2025.
A second part was $156.6 million of 5.625% class B certificates (/B+/B) with an expected maturity of Jan. 15, 2021.
Each will have a legal maturity 18 months after the expected maturity.
Pricing was done under Rule 144A.
Bookrunners for the sale were Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Natixis Securities Americas LLC.
The notes will be secured by eight Boeing aircraft.
Pricing will be done under Rule 144A and Regulation S.
The commercial airline, which is a subsidiary of AMR Corp., is based in Fort Worth, Texas.
| Issuer: | American Airlines, Inc.
|
| Issue: | Enhanced equipment trust certificates
|
| Amount: | $663.378
|
| Bookrunners: | Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Natixis Securities Americas LLC
|
| Distribution: | Rule 144A
|
| Settlement date: | March 12
|
|
|
| Class A certificates
|
| Amount: | $506.7 million
|
| Maturity: | July 15, 2021 (expected)
|
| Coupon: | 4%
|
| Ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB-
|
|
|
| Class B certificates
|
| Amount: | $156.6 million
|
| Maturity: | Jan. 15, 2021 (expected)
|
| Coupon: | 5.625%
|
| Ratings: | Standard & Poor's: B+
|
| Fitch: B
|
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