US Airways prices $546m aircraft financing

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Washington DC
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US Airways has priced two classes of enhanced equipment trust certificates at $546 million, and will use the funds from the offering to finance its purchase of 11 Airbus aircraft.

The aircraft will be delivered from May 2013 to October 2013. The Star Alliance carrier will use any remaining balance for general corporate purposes, it says.

The certificates comprise $418 million of Class A certificates with a final expected distribution date of 3 June 2025 and $128 million of Class B certificates with a final expected distribution date of 3 June 2021.

US Airways will issue the certificates on 13 December 2012.

Citigroup Global Markets is the structuring agent for the offering. Citigroup, Goldman Sachs and Morgan Stanley are joint book-running managers while Barclays Capital, Merrill Lynch, and Pierce, Fenner & Smith acted as co-managers.