New Issue: American Airlines sells $813.8 million class AA, A pass-through trust certificates

By Cristal Cody

Eureka Springs, Ark., Sept. 19 – American Airlines, Inc. sold $813,797,000 of class AA and class A pass-through enhanced equipment trust certificates, series 2016-3, at par on Monday, according to a market source.

The company priced $557,654,000 of 3% class AA certificates (Aa3/AA+) and $256,143,000 of 3.25% class A certificates (A2/A+).

Both tranches have a final expected distribution date of Oct. 15, 2028 and an average life of 8.8 years.

Goldman Sachs & Co., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. were the active bookrunners.

Proceeds will be used to purchase new aircraft, according to an FWP and a 424B5 filed with the Securities and Exchange Commission.

The commercial airline, which is a subsidiary of AMR Corp., is based in Fort Worth, Texas.

Issuer:	American Airlines, Inc.
Amount:	$813,797,000
Description:	Pass-through enhanced equipment trust certificates
Bookrunners:	Goldman Sachs & Co., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc.
Trade date:	Sept. 19
Distribution:	SEC registered
Class AA certificates
Amount:	$557,654,000
Maturity:	Oct. 15, 2028
Coupon:	3%
Price:	Par
Yield:	3%
Ratings:	Moody’s: Aa3
	S&P: AA+
Class A certificates
Amount:	$256,143,000
Maturity:	Oct. 15, 2028
Coupon:	3.25%
Price:	Par
Yield:	3.25%
Ratings:	Moody’s: A2
	S&P: A+

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