{"id":758,"date":"2020-06-22T11:54:43","date_gmt":"2020-06-22T11:54:43","guid":{"rendered":"https:\/\/newsraise.com\/?p=758"},"modified":"2020-06-22T11:54:43","modified_gmt":"2020-06-22T11:54:43","slug":"the-american-airline-companies-seek-3-5-billion-of-financing","status":"publish","type":"post","link":"https:\/\/newsraise.com\/index.php\/2020\/06\/22\/the-american-airline-companies-seek-3-5-billion-of-financing\/","title":{"rendered":"The American Airline Companies Seek $3.5 billion of financing"},"content":{"rendered":"<p>American Airlines said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline\u2019s liquidity as it grapples with travel restrictions caused by the coronavirus.<\/p>\n<p>The company plans to raise $1.5 billion by selling shares and convertible senior notes due 2025, the airline said in a statement.<\/p>\n<p>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.<\/p>\n<p>The company expects to use the net proceeds from the stock and convertible notes offerings for general corporate purposes and to enhance its liquidity position, the airline added.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">American Airlines, the largest U.S. carrier, has sought $3.5 billion in new financing to enhance its liquidity position <a href=\"https:\/\/t.co\/C26QeVGedl\">https:\/\/t.co\/C26QeVGedl<\/a> <a href=\"https:\/\/t.co\/GsPtG2RZ1V\">pic.twitter.com\/GsPtG2RZ1V<\/a><\/p>\n<p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1274998060452442112?ref_src=twsrc%5Etfw\">June 22, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>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.<\/p>\n<p>Goldman Sachs, Citigroup, BofA Securities and JP Morgan will be acting as representatives for the underwriters.<\/p>\n<p>American Airlines and Delta Air Lines said last week that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American Airlines said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline\u2019s liquidity as it grapples with travel restrictions&#8230;<\/p>\n","protected":false},"author":3,"featured_media":759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO 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