General Industry

American Airlines Upsizes Bond And Loan Offering

By Dave Simpson
American Airlines Upsizes Bond And Loan Offering

American Airlines Group Inc has said that it has upsized and priced a $10 billion bond and loan offering, supported by its AAdvantage loyalty programme.

Previous Statement

The airlines previously said that it would sell $7.5 billion of bonds and leveraged loans backed by its loyalty programme to repay US government debt.

Offering Breakdown

The offering consists of $6.5 billion of high-yield bonds and $3.5 billion of leveraged loans, American Airlines said.

Repaying Debt

The company said that it plans to use part of the proceeds to repay government debt.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.