Day: June 21, 2020

American Airlines Announces Proposed Offering of Senior Secured Notes and New Term Loan

Written by Customer Service on . Posted in Public Companies.

FORT WORTH, Texas, June 21, 2020 (GLOBE NEWSWIRE) — American Airlines, Inc. (NASDAQ: AAL) (the “Company”) today announced a proposed private offering of $1.5 billion aggregate principal amount of secured senior notes due 2025 (the “Notes”). The Notes will be guaranteed on a senior unsecured basis by American Airlines Group Inc. (the “Guarantor”). The Company also announced it intends to enter into a new $500 million Term Loan B Facility due 2024 (the “Term Loan”) concurrently with the closing of the offering of the Notes.The Company expects to use a portion of the net proceeds from the offering of the Notes and borrowings under the Term Loan to refinance its delayed draw term loan facility which the Company and the Guarantor entered into on March 18, 2020 and is scheduled to mature on March 17, 2021, with the remainder for general...

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American Airlines Group Announces Proposed Offerings of Common Stock and Convertible Senior Notes Due 2025

Written by Customer Service on . Posted in Public Companies.

FORT WORTH, Texas, June 21, 2020 (GLOBE NEWSWIRE) — American Airlines Group Inc. (NASDAQ: AAL) (the “Company”) today announced proposed underwritten public offerings of $750,000,000 of shares of its common stock (the “Common Stock” and, such offering, the “Common Stock Offering”) and $750,000,000 aggregate principal amount of its convertible senior notes due 2025 (the “Convertible Notes” and such offering, the “Convertible Notes Offering”).The Company intends to grant the underwriters of the offerings a 30-day option to purchase, in whole or in part, up to $112,500,000 of additional shares of Common Stock in the Common Stock Offering and a 30-day option to purchase, in whole or in part, up to $112,500,000 aggregate principal amount of additional Convertible Notes in the Convertible Notes Offering, in each case solely to cover over-allotments,...

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AAC Holdings Gains Support From Lenders, Proceeds With Recapitalization Plan to Support Patient Care & Long-Term Growth

Written by Customer Service on . Posted in Public Companies.

With Treatment Operations Unaffected, AAC Will Continue Providing High-Quality Patient CareCompany Recapitalizes with Initial $62.5M in Incremental Financing & Lower Debt Cost to Better Position the Company and Its Treatment Facilities for Long-Term GrowthAAC & Its Treatment Facilities Positioned for Long-Term GrowthBRENTWOOD, Tenn., June 20, 2020 (GLOBE NEWSWIRE) — AAC Holdings, Inc. (“AAC” or the “Company”) (OTC: AACH), a leading provider of inpatient and outpatient substance abuse treatment services, today announced it has received the support of its Board of Directors and lenders to move forward with a strategic recapitalization plan. The plan is designed to significantly reduce the Company’s debt obligations and establish a sound financial platform for long-term growth, while maintaining AAC’s outstanding standards...

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