United Airlines said Wednesday that it would offer $500 million in senior secured notes due in 2013, according to Associated Press.
United said the notes will be secured by certain United's routes, takeoff and landing slots and airport gate leaseholds utilized in connection with these routes.
Xplosive Stocks, an online financial publication, provides investors timely stock market information.
Sign Up Today for our Free Stock Newsletter
The collateral is currently secured by the United's senior secured credit facility, but the airline said it plans to substitute different collateral for that debt.
United said it will use the proceeds for general corporate purposes.
United said the notes would be guaranteed on a senior unsecured basis by its corporate parent, UAL Corp. (NASDAQ: UAUA).
United shares fell 3 cents to $12.64 in afternoon trading.
Sign up for the free Xplosive Stocks newsletter. Investors interested in receiving small cap stock alerts through the penny stock newsletter published by Xplosive Stocks can sign up for free by visiting our website.
About Us
Xplosive Stock is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We focus on Xplosive Stocks and track small cap companies that are on the brink of a financial breakout. To feature a company on our website please contact us at the email listed below.
Please click here to read the full disclaimer.
