American Airlines sets $735 million term loan B at Libor plus 200 bps

By Sara Rosenberg

New York, June 8 – American Airlines Inc. firmed pricing on its $735 million senior secured term loan B due Oct. 10, 2021 at Libor plus 200 basis points, the low end of the Libor plus 200 bps to 225 bps talk, according to a market source.

The term loan still has a 0% Libor floor, par issue price and 101 soft call protection for six months.

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

Proceeds will be used to reprice an existing term loan from Libor plus 250 bps with a 0.75% Libor floor.

Closing is expected on Wednesday.

American Airlines is a Fort Worth, Texas-based airline company.

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