By Cristal Cody
Tupelo, Miss., Sept. 21 – American Airlines, Inc. priced a $193.44 million offering of 3.75% series 2016-3B pass-through certificates (Baa3/BBB) at par on Wednesday, according to additional details of the previously reported sale in an FWP filing with the Securities and Exchange Commission.
The certificates tightened from initial price thoughts in the 3.875% area and priced with a spread of Treasuries plus 192.4 basis points, according to a market source.
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%
|
| Price: | Par
|
| Yield: | 3.75%
|
| Spread: | Treasuries plus 192.4 bps
|
| Trade date: | Sept. 20
|
| Settlement date: | Oct. 4
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Distribution: | SEC registered
|
| Price talk: | 3.875% area
|
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