Air Canada readies launch of $800 million term loan B for Friday

By Sara Rosenberg

New York, May 18 – Air Canada will hold a lender call on Friday to launch an $800 million term loan B talked at Libor plus 225 basis points to 250 bps with a 0.75% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan B from Libor plus 275 bps with a 0.75% Libor floor.

Air Canada is a Montreal-based airline company.

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