American Airlines Group Inc said on Monday it will sell $7.5 billion of bonds and leveraged loans backed by its loyalty program to repay U.S. government debt.
By Reuters Staff
1 Min Read
March 8 (Reuters) - American Airlines Group Inc said on Monday it intends to privately offer notes worth about $5 billion to repay government debt.
The U.S. airline will use the proceeds to repay outstanding debt under the loan with the U.S. Department of the Treasury and for other purposes. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Bernard Orr)
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American Airlines is mortgaging its frequent flyer program to secure $5 billion in bonds and a $2.5 billion term loan to pay back a Treasury loan and other.
American Airlines Group Inc said on Monday it will sell $7.5 billion of bonds and leveraged loans backed by its loyalty program to repay U.S. government debt.