American Airlines has priced a $100 million subordinate enhanced equipment trust certificate (EETC) transaction, refinancing a similarly sized deal that matures this year.
The 2012-2 C notes priced at 230 basis points over five-year US treasury yields for a 4.7% coupon on 1 May, Bloomberg data shows. The debt matures in 2023.
Proceeds from the issue will refinance the $100 million 2012-2 C tranche that has a bullet maturity this year, Fitch Ratings said in a report earlier this week.
The 2012-2 notes, which were initially issued by US Airways in December 2012, are secured by seven Airbus A321s and four Airbus A330-200s in American's fleet.
American merged with US Airways in December 2013.
Deutsche Bank is the sole bookrunner of the new 2012-2 notes. Natixis is the escrow agent.
Source: Cirium Dashboard
