Atlas Air calls some pass-through certificates for redemption Aug. 4

By Toni Weeks

San Luis Obispo, Calif., July 31 – Atlas Air Worldwide Holdings, Inc. has issued redemption notices to holders of 7.68% Atlas Air pass-through certificates, series 1998-1B, due Jan. 2, 2016, according to a company notice.

According to a notice, owner trustee N475MC and owner trustee N493MC will redeem the equipment notes issued under the trust indenture of Aug. 4. The notes are secured by two Boeing 747-47UF freighter aircrafts (U.S. registration numbers N475MC and N493MC).

The notes will be redeemed on Aug. 4 at par plus accrued interest plus a make-whole amount, if any, as a special payment. The record date is July 20.

Per $1,000 principal amount of notes, the amount of the special distribution allocable to principal will be $102.89724716, the amount allocable to interest will be $0.10278835, and the amount allocable to the make-whole premium will be $20.256178164.

On the special distribution date, the redemption price will become due and the special payment will become payable. Following the distribution of the special payment on the special distribution date, assuming the expected redemption price is received, $138.01294645 in principal amount per $1,000 face amount of certificates will remain outstanding.

U.S. Bank NA is the trustee.

Atlas Air is a Purchase, N.Y., provider of air cargo and related services.

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