This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
United Airlines Lining Up $9bn Debt Sale
April 13, 2021
United Airlines announced it will raise $9bn through a combination of loans and bonds. Part of the borrowing will go towards paying-off $520mn that the airline borrowed from the federal government program last year as airlines suffered due to the pandemic. Proceeds will also be used towards refinancing a $1.4bn term loan, $1bn revolving credit line and to add cash to their balance sheet. The planned issuance is similar in nature to American Airlines’ $10bn debt issuance in March that set the record for the largest debt package by an airline where part of the proceeds were to be used to repay the term loan facility offered by the US Treasury. “The market has been open like crazy for airlines… They have issued debt right and left, and they have less pressure on liquidity” said Roger King of CreditSights.
United’s bonds were stable with their 4.25% 2022s at 102.2, yielding 2.7% and their 4.875% 2025s at 101.6, yielding 4.4%.
For the full story, click here
Go back to Latest bond Market News
Related Posts:
United Downgraded to B+
March 30, 2021
United Raises $4 Billion via Two-Trancher
April 16, 2021
United Offers Guidance on Metrics Needed to Breakeven
April 20, 2021
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.