Continental Airlines Inc. (NYSE: CAL) said Monday it plans a $200 million offering of convertible senior notes due 2015, according to Associated Press.
The airline anticipates using proceeds from the public offering for general corporate purposes.
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Continental said it plans to give the underwriters a 30-day option to buy up to an additional $30 million in notes to cover any overallotments.
Shares of Continental slid 75 cents, or 4.5 percent, to $15.99 in afternoon activity. The stock has ranged from $6.37 to $21.83 over the past year.
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