American Airlines talks $500 million five-year notes in 3 7/8% area; pricing Thursday

By Paul A. Harris

Portland, Ore., Feb. 20 – American Airlines Group Inc. talked a $500 million offering of five-year senior bullet notes (existing ratings B1/BB-) to yield in the 3 7/8% area, according to a syndicate source.

The deal is coming in a Thursday drive-by. Books close at 1 p.m. ET on Thursday, and the Rule 144A and Regulation S for life offering is set to price thereafter.

Left lead bookrunner Morgan Stanley & Co. LLC will bill and deliver.

The Fort Worth-based airline plans to use the proceeds to fund the company's pension plan.

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