Volumes for enhanced equipment trust certificate (EETC) deals got a $256 million boost after American Airlines priced its C- tranche offering.

The new 2013-2 C-tranche issued by American Airlines from its existing 2013-2 EETC was done as a 3-year bullet maturity with a coupon of 6%, according to Deutsche Bank analysts. Fitch Ratings assigned a ‘'B+' rating to the notes.

The deal increases the Series 2013-2 deal to $2.2 billion and brings total EETC issuance in 2013 to approximately $8.3 billion, the highest level of EETC issuance in more than a decade, according to Deutsche Bank.

Fitch currently rates the American Airlines 2013-2 class A and class B certificates 'BBB+' and 'BB+', respectively. 

The $512 million, Series 2013-2 B tranche was issued in Nov. 27 this year.   The B notes have a legal final maturity of January 2022 and an expected maturity of July 2020, with an average life of 4.8years and LTV of 74.5%.  In July, the airline issued $1.4 billion of class A certificates with an expected maturity of January 2023. The final legal maturity is 18 months after the expected maturity.

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