Air Canada prices three-tranched EETC

Victoria
By Victoria April 1, 2013 10:13

Air Canada prices three-tranched EETC

Air Canada previously announced private offering of two tranches of enhanced equipment trust certificates (EETC) has been upsized by an additional tranches of US$108.264 million C notes. All three tranches of Air Canada Series 2013-1 worth US$714.534 million in total priced on April 24.
The US$424.389 million Class A notes priced at 4.125% with a final expected distribution date of May 15, 2025. The US$181.881 million B notes carry a coupon of 5.375% and a final expected distribution date of May 15, 2021. The C slice, worth US$108.264 million priced at 6.625% with a final expected distribution date of May 15, 2018.
The notes are secured on five new Boeing 777-300ER aircraft, which will be added to Air Canada’s fleet between June 2013 and February 2014.
The offering is expected to close on May 9, 2013, subject to customary closing conditions.

Victoria
By Victoria April 1, 2013 10:13
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