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BRIEF-Air Canada Announces Longer-Term Refinancings To Replace Short-Term Facilities

Published 2020-09-23, 04:03 p/m
© Reuters.
AC
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Sept 23 (Reuters) - Air Canada AC.TO :

* AIR CANADA ANNOUNCES LONGER-TERM REFINANCINGS TO REPLACE SHORT-TERM FACILITIES

* AIR CANADA - $787.7 MILLION SECURED REFINANCING OF 18 AIRBUS A220 AIRCRAFT

* AIR CANADA - RECENTLY COMPLETED 2 LONGER-TERM REFINANCING TRANSACTIONS FOR TOTAL AMOUNT OF ABOUT $1.52 BILLION, REPLACING SHORT-TERM FACILITIES

* AIR CANADA - ANY AMOUNT LEFT UNPAID UNDER BRIDGE FINANCING WILL BE REPAID FOLLOWING FINANCING OF 18(TH) A220 AIRCRAFT EXPECTED IN Q1 OF 2021

* AIR CANADA - DEBT MATURITIES IN 2021 PREVIOUSLY DISCLOSED IN Q2 2020 RESULTS WILL BE, ON A PRO FORMA BASIS, REDUCED BY ABOUT $1.42 BILLION

* AIR CANADA - DEBT MATURITIES ARE NOW ESTIMATED TO TOTAL $1.71 BILLION

* AIR CANADA - FIRST TRANSACTION CONSISTS OF SECURED FACILITY TOTALLING $787.7 MILLION TO FINANCE AIR CANADA'S PURCHASE OF FIRST 18 AIRBUS A220 AIRCRAFT

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