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March 8, 2021, 7:28 a.m. EST

American Airlines to issue $5 billion of bonds, enter $2.5 billion term loan facility to repay loan owed to U.S. Treasury

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By Ciara Linnane

American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL -0.45% said Monday it is planning to issue $2.5 billion of five-year bonds, $2.5 billion of 8-year bonds and to enter a $2.5 billion senior secured term loan credit facility backed by its loyalty program AAdvantage. Proceeds of the deal will be used to repay all sums outstanding under the term loan facility the airline received from the U.S. Treasury, as part of a bailout program created last year to help airlines cope with the fallout from the coronavirus pandemic. Shares were not yet active premarket, but are up 28% in the last 12 months, while the U.S. Global JETS ETF /zigman2/quotes/207744796/composite JETS -0.53% has fallen 0.4% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% has gained 29%.

/zigman2/quotes/209207041/composite
US : U.S.: Nasdaq
$ 22.03
-0.10 -0.45%
Volume: 25.96M
April 16, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$14.16 billion
Rev. per Employee
$168,812
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/zigman2/quotes/207744796/composite
US : U.S.: NYSE Arca
$ 26.44
-0.14 -0.53%
Volume: 4.13M
April 16, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,185.47
+15.05 +0.36%
Volume: 2.21B
April 16, 2021 5:15p
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