American Airlines firms $750 million term B at Libor plus 300 bps

By Sara Rosenberg

New York, April 16 – American Airlines Inc. set pricing on its $750 million senior secured term loan B due Oct. 10, 2021 at Libor plus 300 basis points, the low end of the Libor plus 300 bps to 325 bps talk, according to a market source.

The term loan still has a 0.75% Libor floor, a par offer price and 101 soft call protection for six months.

Citigroup Global Markets Inc., Bank of America Merrill Lynch, Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc. BNP Paribas Securities Corp. and Credit Agricole CIB are the joint lead arrangers on the deal.

Proceeds will be used to repay an existing senior secured term loan B.

American Airlines is a Fort Worth-based airline company.

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