-- American Airlines Group (AAL) is selling $1.14 billion of bonds financing a group of planes, Bloomberg reported Monday, citing a person familiar with the matter.
The securities are known as enhanced equipment trust certificates, collateralized by 32 new and existing planes of the company, according to the report.
It is offering notes in two parts, with an average life of 7.7 years for the longer portion, the report said. Initial discussions suggest the longer-dated notes, a $905.04 million offering, could yield somewhere around 5.625%, Bloomberg said.
American Airlines did not immediately respond to a request for comment by.
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