By Cristal Cody
Eureka Springs, Ark., May 2 – American Airlines, Inc. sold $828.7 of series 2016-2 pass-through certificates in two parts on Monday, according to a market source.
The $261.3 million offering of 3.2% class A certificates, which have a final expected distribution date of June 15, 2028, priced at a spread of 133.5 basis points over Treasuries.
American Airlines also sold $567.4 million of 3.65% class AA certificates with a final expected distribution date of June 15, 2028 at Treasuries plus 178.5 bps.
Citigroup Global Markets Inc., Goldman Sachs & Co. and Morgan Stanley & Co. LLC were the active bookrunners.
Proceeds will be used to acquire equipment notes that will be issued by the company.
The commercial airline, which is a subsidiary of AMR Corp., is based in Fort Worth, Texas.
| Issuer: | American Airlines, Inc.
|
| Amount: | $828.7 million
|
| Securities: | Series 2016-2 pass-through certificates
|
| Active bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC
|
| Pricing date: | May 2
|
|
|
| Class A notes
|
| Amount: | $261.3 million
|
| Maturity: | June 15, 2028
|
| Coupon: | 3.2%
|
| Spread: | Treasuries plus 133.5 bps
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA
|
|
|
| Class AA notes
|
| Amount: | $567.4 million
|
| Maturity: | June 15, 2028
|
| Coupon: | 3.65%
|
| Spread: | Treasuries plus 178.5 bps
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
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