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AMR’s 6.25% Convertible Falls Below Par to 99.25 Cents on Dollar

American Airlines parent AMR Corp.’s 6.25 percent convertible bond due October 2014 fell below par for the first time in six months after the Justice Department sued to block a merger with US Airways Group Inc.

The carrier’s $460 million of senior unsecured convertible debt declined 5.25 cents to 99.25 cents on the dollar as of 8:54 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

That’s the lowest level for the debt of the Fort Worth, Texas-based company since Feb. 8, Trace data show. The bonds traded as high as 116.125 cents on Aug. 9 for the biggest two-day decline since November 2011 when AMR filed for Chapter 11 bankruptcy protection.

The proposed tie-up would lead to less competition in the industry and higher prices for consumers, according to a complaint filed yesterday in Washington federal court. The Justice Department said it seeks to permanently block the merger “or any other transaction that would combine the two companies.”

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