American Airlines fully borrows $1 billion delayed-draw term loan

By Wendy Van Sickle

Columbus, Ohio, March 25 – American Airlines, Inc. borrowed $1 billion under its existing senior secured delayed draw-term loan credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The credit term loan facility was entered on March 18.

Term loans under the facility will be due in a single installment on the maturity date on March 17, 2021.

The proceeds from the facility will be used for general corporate purposes.

Pricing is Libor plus 200 basis points, stepping up to 275 bps 180 days after closing. There is a 1% Libor floor.

The company is a Fort Worth-based airline.

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