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US Airways announces USD340m for aircraft financing

16-Dec-2010 11:56 AM

US Airways announced (15-Dec-2010) its intention to make an offering, subject to market and other conditions, of enhanced equipment trust certificates worth USD340 million. The company intends to use the proceeds to refinance eight Airbus aircraft and use the balance, if any, for general corporate purposes. The financing will be comprised of approximately USD263 million of Class A certificates with a final expected distribution date of 22-Apr-2023 and approximately USD77 million of Class B certificates with a final expected distribution date of 22-Apr-2017. Morgan Stanley & Co Incorporated will act as structuring agent for the offering. Morgan Stanley, Citigroup Global Markets Inc and Credit Suisse Securities (USA) LLC will act as the joint bookrunning managers. Merrill Lynch, Pierce, Fenner & Smith Incorporated will act as a co-manager. [more]