Hoping to ride the wave of positive investor sentiment on its merger approval with US Airways, American Airlines has launched a $512.038 million B tranche enhanced equipment trust certificate (EETC) issuance (2013-2B). The B notes have a legal final maturity of January 2022 and an expected maturity of July 2020, with an average life of 4.8years and LTV of 74.5%. The expected rating for the B notes is B+ from Standard & Poor’s and B from Fitch. The notes, which have Section 1110 protection after AMR emerges from bankruptcy but until then investors are able to repossess the aircraft immediately
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