AMR <AMR> COMPLETES PREFERRED STOCK PLACEMENT
AMR Corp, parent company of American
Airlines, said it has completed a private placement of 150 mln
dlrs of preferred auction rate stock through Bankers Trust Co
NY <BT>.
    AMR said the preferred stock was sold in three series of 50
mln dlrs each. Each series is perpetual and will pay dividend
rates which will be determined every seven weeks through a
Dutch Auction process, AMR added.
    The company said it will add the proceeds from the issue to
working capital and use it for capital expenditures and for
general corporate purposes.
 Reuter
