US Airways released that it intends to make an offering, subject to market and other conditions, of Class A and Class B enhanced equipment trust certificates (the “Certificates”) in the aggregate principal amount of approximately $388 million. The Company intends to use the proceeds from the offering to refinance five Airbus aircraft currently owned by US Airways, to finance four Airbus aircraft scheduled to be delivered in September 2011 and October 2011 and use the balance, if any, for general corporate purposes.
The $388 million financing will be comprised of approximately $294 million of Class A certificates with a final expected distribution date of October 22, 2023, and approximately $94 million of Class B certificates with a final expected distribution date of October 22, 2018.
