Air Canada (AC.TO) Remain Unstable, Soaring 3.7%

As can be seen from the chart, the stock of Air Canada remains unstable during the five days. on July 23, the stock price was at Can$25.09, and it jumps to Can$25.60 in three days. Air Canada’s stock fluctuated between Can$25.49 and Can$24.93 with enormous changes. Now it is trading at Can$25.42.Air Canada has agreed to acquire US$1.2 billion in 3.875 percent senior secured notes due 2026 and C$2.0 billion in 4.625 percent senior secured notes due 2029 from a syndicate of first purchasers. Lenders have also agreed to contribute US$2.3 billion under a new term loan B expiring in 2028 and US$600 million under a new revolving credit facility maturing in 2025, according to Air Canada.

The whole refinancing deal was increased from the previously disclosed US$5.35 billion aggregate principal amount to US$5.69 billion. Subject to normal closing circumstances, the Senior Secured Notes Offering, and the Senior Secured Credit Facilities are scheduled to close on or about August 11, 2021.

Jack Dawkins

Finance and Tech Contributor

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