United Pulls $2.25 Billion Note Offering
United Airlines Holdings (NASDAQ: UAL) after markets closed Friday said it would not proceed with a planned $2.25 billion notes offering amid rumors the airline was having a hard time attracting interest in the debt.
United on May 6 said it intended to do a private offering of notes in two series, one due 2023 and one due in 2025, to be secured by a designated pool of 360 aircraft. The airline intended to use the proceeds to repay the $2 billion aggregate principal amount outstanding under the term loan facility it entered into on March 9.
But the company in a regulatory filing Friday night backed away from the offering, without providing any explanation.
Source Fool.com
