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Press Release Source: US Airways Group, Inc.
US Airways in Discussions Regarding Possible Debt Refinancing
Wednesday March 15, 11:17 am ET
TEMPE, Ariz., March 15 /PRNewswire-FirstCall/ -- US Airways Group, Inc. (NYSE: LCC - News) announced that it has entered into a commitment letter with GE Commercial Finance regarding a possible debt financing transaction that would permit US Airways to refinance approximately $1.1 billion of its outstanding indebtedness. The new $1.1 billion term loan facility is expected to bear interest at LIBOR plus 3.50 percent to 3.75 percent, subject to adjustment in connection with the final loan documentation, final credit ratings and the syndication process. The term of the facility is expected to be five years with the entire principal amount of the loan payable in full at maturity.
Press Release Source: US Airways Group, Inc.
US Airways in Discussions Regarding Possible Debt Refinancing
Wednesday March 15, 11:17 am ET
TEMPE, Ariz., March 15 /PRNewswire-FirstCall/ -- US Airways Group, Inc. (NYSE: LCC - News) announced that it has entered into a commitment letter with GE Commercial Finance regarding a possible debt financing transaction that would permit US Airways to refinance approximately $1.1 billion of its outstanding indebtedness. The new $1.1 billion term loan facility is expected to bear interest at LIBOR plus 3.50 percent to 3.75 percent, subject to adjustment in connection with the final loan documentation, final credit ratings and the syndication process. The term of the facility is expected to be five years with the entire principal amount of the loan payable in full at maturity.