American Airlines launches $300 million add-on term loan at 99.5 OID

By Sara Rosenberg

New York, Sept. 5 – American Airlines Inc. held a lender call on Wednesday to launch a fungible $300 million add-on term loan (//BB+) due 2021 with original issue discount talk of 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 200 basis points with a 0% Libor floor, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal. Citigroup Global Markets Inc. is the administrative agent.

Commitments are due at noon ET on Sept. 12, the source added.

Proceeds will be used for general corporate purposes.

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

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