Air Canada Seeks to Raise $2.75 Billion in Senior Secured Notes Offering

By Adriano Marchese

Air Canada said Monday that it is looking to raise $2.75 billion by way of a private offering of senior secured notes to refinance existing debt.

The Canadian airline said the notes will be offered in two series, consisting of U.S.- and Canadian-dollar denominated notes due in 2026 and 2029, respectively.

The company said it will use the proceeds to fund the refinancing of senior secured notes due in 2023, as well as second lien notes due in 2024.

The offering is part of a broader refinancing transaction previously disclosed in which it is seeking to raise $5.35 billion.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

07-26-21 0744ET