US Airways Group, Inc. 7.25% Convertible Senior Notes Due 2014 Become Convertible Into Shares of Common Stock of American Airlines Group Inc.
TEMPE, Ariz., Dec. 9, 2013 /PRNewswire/ -- US Airways Group, Inc. (NYSE: LCC) announced today that, as a result of the Company's merger with AMR Merger Sub, Inc. (the "Merger"), pursuant to which the Company became a wholly-owned subsidiary of American Airlines Group Inc. (NASDAQ: AAL) (AAG) as contemplated by the Agreement and Plan of Merger, dated as of Feb 13, 2013, its 7.25% Convertible Senior Notes due 2014 (the "Notes") have become convertible into cash, shares of AAG common stock or a combination thereof at the Company's election.
This change has been made pursuant to a second supplemental indenture, dated as of Dec. 9, 2013 (the "Second Supplemental Indenture") to the indenture, dated as of May 13, 2009 (the "Base Indenture"), by and between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the "Trustee"), as supplemented by the first supplemental indenture, dated as of May 13, 2009, between the Company and the Trustee (the "First Supplemental Indenture" and, together with the Base Indenture and the Second Supplemental Indenture, the "Indenture") governing the Notes.
This press release is only a summary of certain provisions of the Indenture. A complete explanation of the conversion rights of holders of the Notes, as well as the procedures required to convert Notes, is set forth in the Indenture. A copy of the Base Indenture was filed as Exhibit 4.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission ( SEC) on May 14, 2009; a copy of the First Supplemental Indenture was filed as Exhibit 4.2 to the Company's Current Report on Form 8-K filed with the SEC on May 14, 2009; and a copy of the Second Supplemental Indenture was filed as Exhibit 4.1 to the Company's Current Report on Form 8-K filed with the SEC on December 9, 2013. All holders are urged to review the conversion provisions contained in the Indenture in their entirety.
About American Airlines Group
American Airlines Group (NASDAQ: AAL) is the holding company for American Airlines and US Airways. Together with American Eagle and US Airways Express, the airlines operate an average of nearly 6,700 flights per day to more than 330 destinations in 54 countries from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix and Washington, D.C. American's AAdvantage and US Airways Dividend Miles programs allow members to earn and redeem miles for travel and everyday purchases as well as flight upgrades, vacation packages, car rentals, hotel stays and other retail products. A founding member of the oneworld® alliance, American Airlines and its members and members-elect, serve nearly 1,000 destinations with 14,250 daily flights to more than 150 countries. Connect with American on Twitter @AmericanAir or Facebook.com/AmericanAirlines and follow US Airways on Twitter @USAirways and on Facebook.com/USAirways.
SOURCE American Airlines
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