American Airlines (AAL.US) is planning to increase size of convertible and secondary stock offerings to $2 billion from $1.5 billion, according to Bloomberg.
According to the report American Airlines will sell $1 billion of new shares in the offering, while a person familiar with the matter told Bloomberg that the shares will be priced at $13.50/share.
Convertible note sale was also increased to $1 billion, with a set price of a 6.5% coupon and a 20% conversion premium, according to Bloomberg sources.
American Airlines (AAL.US) stock sdropped 7% during today's session, while total year-to-date loss reached 48% as company is dealing with the travel freeze caused by the pandemic. Price bounced off the 200 MA (redline) and continues to move lower. If sellers will manage to break below support at $12.87 per share, then downward move toward $8.28 per share may accelerate. Source: xStation5
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