Published on 7/28/2014 in the Prospect News High Yield Daily and Prospect News Investment Grade Daily.
New Issue: United Airlines prices $1.06 billion of class A, B pass-throughs
By Aleesia Forni
Virginia Beach, July 28 – United Airlines, Inc. priced $1,061489,000 in two classes of series 2014-2 pass-through certificates, according to a FWP filing with the Securities and Exchange Commission.
The deal included $823,071,000 of 3.75% class A certificates (/A-/A) with a final expected distribution date of Sept. 3, 2026 at par.
There was also $238,418,000 of 4.625% class B certificates (/BB+/BB+) with a final expected distribution date of Sept. 3, 2022 sold at par.
Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC were the lead bookrunners. Bookrunners were Deutsche Bank Securities Inc., Goldman Sachs & Co., Citigroup Global Markets Inc., Barclays, BNP Paribas Securities Corp. and Credit Agricole Securities (USA) Inc.
Proceeds will be used to acquire equipment notes that will be issued to finance the purchase of 15 new Boeing aircraft scheduled for delivery from January 2015 to July 2015 and 12 new Embraer aircraft scheduled for delivery from November 2014 to July 2015.
The airline is based in Chicago.
Issuer: | United Airlines Inc.
|
Issue: | 2014-2 Pass Through Trust
|
Amount: | $1,061,489,000
|
Lead bookrunners: | Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC
|
Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co., Citigroup Global Markets Inc., Barclays, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc.
|
Trade date: | July 28
|
Settlement date: | Aug. 11
|
|
Class A certificates
|
Amount: | $823,071,000
|
Final distribution date: | Sept. 3, 2026
|
Coupon: | 3.75%
|
Price: | Par
|
Make-whole spread: | Treasuries plus 25 bps
|
Ratings: | Standard & Poor’s: A-
|
| Fitch: A
|
|
Class B certificates
|
Amount: | $238,418,000
|
Final distribution date: | Sept. 3, 2022
|
Coupon: | 4.625%
|
Price: | Par
|
Make-whole call: | Treasuries plus 50 bps
|
Ratings: | Standard & Poor’s: BB+
|
| Fitch: BB+
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.