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AMR launches $1.9 billion loan repricing at Libor plus 300-325 bps
By Sara Rosenberg
New York, Dec. 4 - AMR Corp. (American Airlines) held a call on Wednesday to launch a repricing of its $1.9 billion debtor-in-possession/exit financing term loan with talk of Libor plus 300 basis points to 325 bps with a 1% Libor floor and a par offer price, according to a market source.
The repricing will take the loan down from Libor plus 375 bps with a 1% Libor floor.
Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Barclays, Goldman Sachs Bank USA, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding Inc. are the lead banks on the deal.
Commitments are due on Dec. 11, the source added.
AMR is a Fort Worth, Texas-based airline company.
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