Air Canada raises $1.23bn

Air Canada has raised $1.23 billion with the closure of two facilities – a private offering of $840 million 9.00% second lien secured notes due 2024 and a C tranche EETC offering for $315 million. The 2024 notes, which were sold at 98% of par, were secured on a second lien basis by certain real estate interests, ground service equipment, certain airport slots and gate leaseholds, and certain routes and the airport slots and gate leaseholds utilized in connection with those routes. Air Canada’s private offering of $315 million one tranche of Class C EETCs sold at 95.002% of par.