John Owen, chief operating officer of Regions Financial, will retire in March of 2021. Owen served at McDonnell-Douglas, Citicorp Credit Services, Arrow Electronics and American Airlines before beginning his 13-year career at Regions.
American Airlines entered into amendments to three credit agreements with Barclays, Citibank and Deutsche Bank as administrative agents
Reuters reported 275 companies have turned to the leveraged loan market in the last three months, which has caused the $1 trillion market to suffer from market fatigue
American Airlines and American Airlines Group amended its credit facility and guarantee agreement with Barclays Bank as administrative agent. A new $300 million revolving credit facility was added. The airlines amended two other facilities, reducing the aggregate amounts on both.
Fitch Ratings has assigned a rating of BB+/RR1 to American Airlines’ senior secured credit facility. American is expected to enter into new $1.15 billion senior secured credit facilities.
Paul Hastings announced the firm was recognized by Global Competition Review , an antitrust and competition news publication, for its work in the US Airways/American Airlines merger.
Reuters reported that American Airlines is seeking to reprice its $1.9 billion exit financing with Deutsche Bank, the lead arranger. The article said the goal is to reprice the loan to a LIB+325 spread, with a 1% LIBOR floor
The Wall Street Journal reported AMR and US Airways settled the Justice Department’s antitrust suit, paving the way for a roughly $16 billion merger that will create the world’s largest airline.