US Airways Group has entered into a commitment letter with Citigroup Global Markets, Inc. and Morgan Stanley Senior Funding, Inc., as Joint Lead Arrangers to arrange a debt financing transaction of up to…
US Airways Group has entered into a commitment letter with Citigroup Global Markets, Inc. and Morgan Stanley Senior Funding, Inc., as Joint Lead Arrangers to arrange a debt financing transaction of up to $1.6 billion that would permit US Airways to refinance $1.25 billion of its existing senior secured credit facility, refinance $325 million of unsecured debt, and raise incremental liquidity.
Citigroup and Morgan Stanley`s commitment is subject to customary terms and conditions, including negotiation and execution of definitive loan documentation. US Airways expects to complete the transaction by the end of the first quarter 2007. Citigroup will act as Administrative Agent, Morgan Stanley will acts as Syndication Agent, and GE Commercial Finance – Corporate Lending, a subsidiary of General Electric, will act as Documentation Agent.
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