By Lisa Kerner
Charlotte, N.C., May 3 – American Airlines, Inc. sold $828.7 of series 2016-2 pass-through certificates in two parts on Monday at par, according to an FWP filed with the Securities and Exchange Commission.
The settlement date is May 16.
As previously reported, 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.
Underwriters included Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., BofA Merrill Lynch, Barclays, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc. and U.S. Bancorp Investments, Inc.
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
|
| Underwriters: | Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., BofA Merrill Lynch, Barclays, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., U.S. Bancorp Investments, Inc.
|
| Pricing date: | May 2
|
| Settlement date: | May 16
|
|
|
| Class A notes
|
| Amount: | $261.3 million
|
| Maturity: | June 15, 2028
|
| Coupon: | 3.2%
|
| Price: | Par
|
| Yield: | 3.2%
|
| Spread: | Treasuries plus 133.5 bps
|
| Call: | Treasuries plus 20 bps
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA
|
|
|
| Class AA notes
|
| Amount: | $567.4 million
|
| Maturity: | June 15, 2028
|
| Coupon: | 3.65%
|
| Price: | Par
|
| Yield: | 3.65%
|
| Call: | Treasuries plus 30 bps
|
| Spread: | Treasuries plus 178.5 bps
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
