The American Airlines Group is planning to raise a new $ 3.5 billion in financing to improve airline liquidity in light of travel restrictions due to the outbreak of the Corona virus.
According to Reuters, the airline said in a statement it plans to raise $ 1.5 billion by selling excellent convertible shares and securities due in 2025.
In addition, the airline said it will offer $ 1.5 billion in guaranteed securities, and is planning to enter into a new $ 500 million fixed-term loan facility due in 2024. .
The company added that it expects to use the net proceeds of the offering of shares and convertible securities for the general purposes of the company and to improve its liquidity position.
The company stated that the offering of transferable shares and securities, which Bloomberg News initially reported on, includes a 30-day option for underwriters to cover the subscription to purchase up to $ 112.5 million of additional ordinary shares and up to $ 112.5 million of additional convertible securities, respectively.
