American Airlines Group Inc said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline's liquidity as it grapples with travel restrictions caused by the coronavirus.
) said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline’s liquidity as it grapples with travel restrictions caused by the coronavirus.
Additionally, the airline said it will offer $1.5 billion in senior secured notes and that it intends to enter into a new $500 million term loan facility due 2024. The stock and convertible notes offerings, first reported by Bloomberg News, include a 30-day option for the underwriters to purchase up to $112.5 million of additional common shares and up to $112.5 million of additional convertible notes respectively, the company said.
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