American Airlines Group Inc. (NASDAQ: AAL) has announced a proposed underwritten public offerings of shares common stock in the amount of USD 750,000,000, and a USD 750,000,000 aggregate principal amount of its convertible senior notes due 2025, the company said.
The company said intends to grant the underwriters of the offerings a 30-day option to purchase, in whole or in part, up to USD 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 USD 112,500,000 aggregate principal amount of additional Convertible Notes in the Convertible Notes Offering.
The company expects to use the net proceeds from the Common Stock Offering and the Convertible Notes Offering for general corporate purposes and to enhance the Company´s liquidity position. The closing of neither the Common Stock Offering nor the Convertible Notes Offering is conditioned upon the closing of the other offering.
Goldman Sachs & Co. LLC, Citigroup, BofA Securities and J.P. Morgan are acting as the joint active book-runners and as representatives of the underwriters for the Common Stock Offering and the Convertible Notes Offering.