Wed, May 02, 2012
Plans To Re-Finance Two A320 Airplanes, Purchase Additional Aircraft
US Airways announced Monday that it priced two offerings of enhanced equipment trust certificates in the aggregate face amount of approximately $623 million. The Company intends to use the proceeds from the offerings to refinance two Airbus aircraft currently owned by US Airways, to finance the Company's purchase of twelve Airbus aircraft scheduled to be delivered from September 2012 to March 2013 and to use the balance, if any, for general corporate purposes.
The $623 million financing is comprised of approximately $380 million of Class A certificates with a final expected distribution date of October 1, 2024, approximately $125 million of Class B certificates with a final expected distribution date of October 1, 2019, and approximately $118 million of Class C certificates with a final expected distribution date of October 1, 2015. The offerings are expected to close on May 14, 2012, subject to customary closing conditions.
Morgan Stanley & Co. LLC acted as structuring agent for the offerings. Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Goldman, Sachs & Co. acted as the joint book-running managers for the offerings; Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Natixis Securities Americas LLC acted as co-managers for the offerings.
The Certificates have been offered under the Company's existing effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. A separate prospectus supplement and accompanying prospectus describing the terms of each offering has been filed with the Securities and Exchange Commission.
Also: Boeing's 787-9 Demo, Hartzell's TBM Wonder-Prop, More Santa Monica Maneuvering, Garmin Global Pilot, Even more TSA Stupidity Greg Koontz has been named the recipient of this >[...]
Also: UK To OSH--By Microlight, On The Eve of Oshkosh 2014, FAA OKs SpaceX TX Launch Site, Extra-Capacity Q400 NextGen Details of the shoot down of MH17 are changing rapidly and ve>[...]
Covers AFIRS for 700/800/900 Models The FAA has granted a re-issued a Supplemental Type Certificate (STC) for the Hawker Beechcraft 700/800/900 model aircraft to Flyht Aerospace So>[...]
Also: Jam-Packed Opening Day Promises That "This Isn't Over" in EAA v FAA Fight ICON Aircraft has been granted a waiver by the FAA to allow a maximum gross takeoff weight to sixtee>[...]
Diamond Aviators Association The Diamond Aviators Association (the DAA) is a membership organization established to educate, promote the safety of, and support the owners and pilot>[...]