Air Canada sets Monday lender call for $800 million credit facility

By Paul A. Harris

Portland, Ore., Sept. 6 - Joint lead arranger Citigroup Global Markets has set up a lender call on behalf of Air Canada at 11 a.m. ET on Monday.

As previously reported, Air Canada announced on Thursday that it plans to enter into an $800 million credit facility and offer $300 million of secured notes as part of a $1.1 billion debt refinancing.

The company concurrently launched tender offers and consent solicitations for its 9¼% senior secured notes due 2015, its 10 1/8% senior secured notes due 2015 and its 12% senior second-lien notes due 2016.

The bank debt will be comprised of a $100 million revolver and a $700 million term loan.

The tender offers expire on Sept. 18.

Air Canada is Canada's largest domestic and international airline. It is based in Montreal.

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