American Airlines seeks $3.5b in new financing

American Airlines Group said Sunday it plans to secure $3.5b in new financing, to improve the airline’s liquidity as it grapples with travel restrictions caused by the coronavirus. The company plans to raise $1.5b by selling shares and convertible senior notes due 2025, the airline said. Additionally, the airline said it will offer $1.5b in senior secured notes and that it intends to enter into a new $500m term loan facility due 2024. The company expects to use the net proceeds from the stock and convertible notes offerings for general corporate purposes and to enhance its liquidity position, the airline added.<br/>