By Cristal Cody
Tupelo, Miss., July 15 – British Airways plc priced $806,166,000 of pass-through trust certificates in two classes on Monday, according to a market source.
British Airways Pass Through Trust 2019-1AA sold $542,971,000 of class AA certificates (Aa2/AA) at par to yield 3.3%. The class AA certificates are due June 15, 2034 and have a final distribution date of Dec. 15, 2032.
British Airways priced $263,195,000 of class A certificates (A3/A-) at par to yield 3.35%. The class A certificates are due Dec. 15, 2030 and have a final distribution date of June 15, 2029.
Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC were the active bookrunners on both classes.
Passives were Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC.
Proceeds will be used to acquire eight new aircraft.
British Airways is an airline based in Waterside, U.K.
| Issuer: | British Airways plc
|
| Amount: | $806,166,000
|
| Description: | Pass-through trust certificates
|
| Bookrunners: | Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC (active); Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC (passive)
|
| Trade date: | July 15
|
|
|
| Class AA certificates
|
| Issuer: | British Airways Pass Through Trust 2019-1AA
|
| Amount: | $542,971,000
|
| Maturity: | Dec. 15, 2032
|
| Coupon: | 3.3%
|
| Price: | Par
|
| Yield: | 3.3%
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class A certificates
|
| Issuer: | British Airways Pass Through Trust 2019-1A
|
| Amount: | $263,195,000
|
| Maturity: | June 15, 2029
|
| Coupon: | 3.35%
|
| Price: | Par
|
| Yield: | 3.35%
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
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