American Airlines adds new $300 million revolver, reduces another

By Wendy Van Sickle

Columbus, Ohio, Aug. 21 – American Airlines, Inc. added a $300 million revolving credit facility under its April 2016 credit agreement on Monday and reduced the revolver under its May 2015 credit agreement by $200 million to $1.2 billion, according to an 8-K filed with the Securities and Exchange Commission.

The new revolver bears interest at Libor plus 225 basis points.

The interest rate margin for the existing revolver was reduced on Monday to also be Libor plus 225 bps, down from Libor plus 300 bps.

Citibank NA is the administrative agent of the credit agreement governing the $1.2 billion revolver.

Deutsche Bank AG, New York Branch is the administrative agent of the credit agreement governing the new $300 million revolver.

At closing, there were no borrowings outstanding under either of the revolvers or under the company’s spare parts revolver.

American Airlines is a Fort Worth-based airline.

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