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American Airlines sets talk in $735 million term loan repricing
By Paul A. Harris
Portland, Ore., May 31 – American Airlines Inc. launched a $735 million repricing of its term loan B due Oct. 10, 2021 (Ba1/BB+/BB+) on Wednesday, according to a market source.
The deal is talked with a 200 basis points to 225 bps spread to Libor, a 0% Libor floor at par, with 101 soft call protection until six months subsequent to closing.
The deal expected to close on June 14.
Citigroup is the lead arranger and administrative agent.
Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, BofA Merrill Lynch, Morgan Stanley, BNP, Credit Agricole, ICBC and US Bancorp are joint lead arrangers.
The borrower is a Fort Worth, Texas-based airline company.
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