American Airlines unveils $7.5b debt sale to repay government loans
American Airlines Group said Monday it will sell $7.5b of bonds and leveraged loans backed by its loyalty program to repay US government debt. While US airlines received billions of dollars in federal grants to cover payroll costs over the past year, American also secured up to $7.5b of term loans from the US Treasury to help it navigate the coronavirus pandemic. Under the deal announced on Monday, American will issue a private offering of notes worth about $5b, half due in 2026 and half in 2029, and a $2.5b term loan credit facility. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-09/oneworld/american-airlines-unveils-7-5b-debt-sale-to-repay-government-loans
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American Airlines unveils $7.5b debt sale to repay government loans
American Airlines Group said Monday it will sell $7.5b of bonds and leveraged loans backed by its loyalty program to repay US government debt. While US airlines received billions of dollars in federal grants to cover payroll costs over the past year, American also secured up to $7.5b of term loans from the US Treasury to help it navigate the coronavirus pandemic. Under the deal announced on Monday, American will issue a private offering of notes worth about $5b, half due in 2026 and half in 2029, and a $2.5b term loan credit facility. <br/>
