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American Airlines Group Inc will sell bonds worth $7.5 billion and leveraged loans backed by its frequent flyer program to repay its debt to the US government.
The airlines received billions of dollars as federal grants, it also received term advances of $7.5 billion from the US treasury to sail through the pandemic.
The airlines announced a deal on March 8 stating that it will issue a private offering of notes worth about $5 billion, half in 5-year bonds(2026) and a half in eight-year bonds(2029), and a $2.5 billion term loan credit facility.
American had a total debt of $41 billion at the end of 2020, 23% more than 2019