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Update: AA prices $726m EETC
28 September 2011
The bond, which priced at 8.625%, was more than three-times oversubscribed.
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American Airlines (AA)
enhanced equipment trust certificate (EETC)
Morgan Stanley
Deutsche Bank
Goldman Sachs
Credit Suisse
Citi
777-200ER
737-800
American Airlines has priced a single tranche enhanced equipment trust certificate (EETC). The $726 million Class A notes, which mature on October 15 2021, priced yesterday at 8.625% and were three-times oversubscribed.
The fixed-rate bond is secured by a pool of 43 Boeing aircraft, which have an average life of 10 years. Moody's rated the deal Baa3,...
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