By Cristal Cody
Tupelo, Miss., Sept. 20 – American Airlines, Inc. priced a $193.44 million offering of 3.75% series 2016-3B pass-through certificates (Baa3/BBB) on Wednesday at a spread of Treasuries plus 192.4 basis points, according to a market source.
The certificates tightened from initial price thoughts in the 3.875% area.
The certificates have a final expected distribution date of Oct. 15, 2025 and a legal distribution date of April 15, 2027.
Credit Suisse Securities (USA) LLC was the bookrunner.
Proceeds will be used to acquire the company’s series B equipment notes, which will be issued to finance the purchase of 25 aircraft.
The commercial airline and subsidiary of AMR Corp. is based in Fort Worth, Texas.
| Issuer: | American Airlines, Inc.
|
| Amount: | $193.44 million
|
| Description: | Pass-through certificates
|
| Maturity: | April 15, 2027
|
| Bookrunner: | Credit Suisse Securities (USA) LLC
|
| Coupon: | 3.75%
|
| Spread: | Treasuries plus 192.4 bps
|
| Trade date: | Sept. 20
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Distribution: | SEC registered
|
| Price talk: | 3.875% area
|
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