American airlines announces pricing of senior secured notes

Fort worth, texas, nov. 17, 2023 (globe newswire) -- american airlines, inc. (the “company”), a subsidiary of american airlines group inc. (the “parent”)(nasdaq: aal), today announced that it priced $1.0 billion aggregate principal amount of its 8.50% senior secured notes due 2029 (the “notes”), representing an upsize of $250.0 million from the previously announced offering amount. the notes will have an interest rate of 8.50% per annum and are being issued at par. concurrent with the issuance of the notes, the company also expects to borrow up to $1.1 billion in aggregate principal amount of term loans (the “term loan”) under a new senior secured credit facility, subject to customary closing conditions, representing an increase of $350.0 million from the previously announced size of the term loan. the offering of the notes is expected to close on december 4, 2023, subject to customary closing conditions. the term loan is also expected to be consummated on or around december 4, 2023, subject to customary closing conditions.
AAL Ratings Summary
AAL Quant Ranking