Loan & DebtMay 29, 2026, 05:27 PM
American Airlines secures $1.85B in new term loans
AI Summary
American Airlines, Inc. and American Airlines Group Inc. entered into the Twelfth Amendment to their Credit and Guaranty Agreement. This amendment refinanced $1,146.8 million of existing term loans and incurred an additional $703.2 million in incremental term loans, totaling $1,850 million in new 2026 Term Loans. These new loans mature on May 29, 2033, and bear interest at a base rate plus 2.00% or SOFR plus 3.00%.
Key Highlights
- Refinanced $1,146.8 million of existing term loans.
- Incurred $703.2 million in new incremental term loans.
- Total new 2026 Term Loans amount to $1,850 million.
- New term loans mature on May 29, 2033.
- Interest rate: Base rate + 2.00% or SOFR + 3.00%.
- Annual repayment of 1.00% of outstanding 2026 Term Loans.
Price Impact
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