US Airways announces pricing of $623m aircraft financing

US Airways reported that it priced two offerings of enhanced equipment trust certificates (the “Certificates”) in the aggregate face amount of approximately $623m. The Company intends to use the proceeds from the offerings to refinance two Airbus aircraft currently owned by US Airways, to finance the Company’s purchase of twelve Airbus aircraft scheduled to be delivered from September 2012 to March 2013 and to use the balance, if any, for general corporate purposes. The $623m financing is comprised of approximately $380m of Class A certificates with a final expected distribution date of October 1, 2024, approximately $125m of Class B certificates with a final expected distribution date of October 1, 2019, and approximately $118m of Class C certificates with a final expected distribution date of October 1, 2015.  The offerings are expected to close on May 14, 2012, subject to customary closing conditions.