SmarTrend(R) News Watch: AMR To Sell $520 million in Debt To Purchase Aircraft
Tue. June 30, 2009; Posted: 08:06 AM
Jun 30, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- American Airlines parent AMR Corp. (NYSE:AMR) announced that is plans to sell $520.1 million in debt to finance 20 aircraft. Four of the aircraft AMR already owns (Boeing 777s) and the remaining 16 (Boeing 737s) are scheduled for delivery by October 2010. The company said the debt matures in July 2019 and will pay semi-annual interest payments in January and July. The interest rate was not disclosed.
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