American Airlines closed a $2.05 billion secured term financing backed by its South American network on 27 June.
A $1.05 billion six-year term loan priced at 375bp over Libor and a $1 billion five-year revolving credit facility at 350bp over Libor, according to a stock exchange filing.
The term loan was smaller than the $1.5 billion loan anticipated by ratings agencies earlier in June and the up to $2.25 billion approved by the US bankruptcy court in May.
Gates, slots and route authorities related to the Fort Worth-based carrier's South American operations back the debt.
Proceeds will be used to repay the $523 million in outstanding principal and interest on the American's 10.5% senior secured notes that were due in October 2012 with the balance going towards aircraft purchases and general corporate purposes, according to Fitch Ratings.
Fitch and Standard & Poor's rate the debt BB-.
Barclays Capital, Citi, Deutsche Bank, Goldman Sachs, J.P. Morgan and Morgan Stanley were joint lead arrangers and joint bookrunners, with Credit Suisse and Bank of American Merrill Lynch joining as joint bookrunners.