American Airlines launches $742.5 million term loan B repricing

By Sara Rosenberg

New York, Sept. 14 – American Airlines Group Inc. launched on its lender call on Wednesday a repricing of its $742.5 million senior secured term loan B due Oct. 10, 2021, with price talk of Libor plus 250 basis points with a 0.75% Libor floor and a par issue price, according to a market source.

The repriced term loan will have 101 soft call protection for six months, the source said.

Citigroup Global Markets Inc. is the lead on the deal.

Cashless roll commitments are due at 3 p.m. ET on Friday and new money commitments are due at 5 p.m. ET on Monday, the source added.

Closing is expected on Sept. 22.

The repricing will take the term loan down from Libor plus 275 bps with a 0.75% Libor floor.

American Airlines is a Fort Worth-based airline company.

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