Air Canada has priced its previously announced private offerings of senior secured first lien notes to be denominated in Canadian dollars and senior secured second lien notes to be denominated in U.S. dollars, as well as an additional private offering of senior secured first lien notes to be denominated in U.S. dollars. Air Canada has entered into purchase agreements with a syndicate of initial purchasers relating to (i) U.S. $400m of 6.75% senior secured first lien notes due 2019 and C$300m of 7.625% senior secured first lien notes due 2019 (the “New Senior Secured Notes”) and (ii) U.S. $300m of 8.75% senior secured second lien notes due 2020 (the “New Senior Secured Second Lien Notes” and, together with the New Senior Secured Notes, the “New Senior Notes”). The New Senior Notes will be sold at par and will provide for interest payable semi-annually. Additionally, Air Canada has received commitments from lenders to provide U.S.$300m under a new senior secured (first lien) term loan maturing in 2019 and U.S.$100m under a new revolving credit facility.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada