American Airlines seeks $3.5 billion in new financing
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.
The company plans to raise $1.5 billion by selling shares and convertible senior notes due 2025, the airline said in a statement.
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 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.
