• Bloomberg

  • SHARE

American Airlines Group Inc. dropped after the carrier said it would raise $3.5 billion (¥375 billion) in new financing, diverging from its recent reliance on U.S. federal aid as the coronavirus pandemic suppresses travel demand.

The carrier is selling $750 million of shares and the same amount of senior convertible notes due in 2025, American said in a statement Sunday. In addition, the carrier will offer $1.5 billion in senior secured notes and said it would enter into a $500 million term loan facility.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)