American Airlines Group Inc. has announced a Default Settlement Method Change Notice for its 6.50% Convertible Senior Notes due 2025 (CUSIP No. 02376R AF9). The Default Settlement Method has been changed to Combination Settlement with a Specified Dollar Amount equal to $1,358 per $1,000 principal amount of Notes, as per clause (x) of the proviso to the definition of “Default Settlement Method” in Section 1.01 of the Supplemental Indenture. This change will apply to all conversions of Notes with a Conversion Date that occurs on or after the specified date, unless the Company provides notice in accordance with the Indenture that a different Settlement Method will apply to such conversion. As a result of these announcements, the company's shares have moved -3.9% on the market, and are now trading at a price of $10.7. For more information, read the company's full 8-K submission here.
American Airlines Announces Change in Default Settlement Method for Convertible Notes
By
Tamara Parker
• Sunday, March 30 15:12 •
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