United Air Lines sets price for offering of $175 million in senior secured notes
By APMonday, June 29, 2009
United Air Lines sets price for note offering
CHICAGO — United Air Lines Inc. announced Monday the pricing of its offering of $175 million in principal senior secured notes.
The company said the notes were issued at a discount to their face value and carry a coupon of 12.8 percent a year.
United said the notes will be secured by a lien on spare parts of its aircraft in the U.S. United’s parent company, UAL Corp. will guarantee the notes.
United Air Lines said it would use the proceeds from the offering for general operations.
Shares of UAL Corp. fell 1 cent to $3.47 in morning trading.
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