(Source: PRNewswire-FirstCall)
CHICAGO, June 29 /PRNewswire-FirstCall/ -- United Air Lines, Inc. (United), the primary subsidiary of UAL Corporation , announced today the pricing of its offering of $175 million in aggregate principal amount of senior secured notes due 2012. The notes were issued at a discount to their face value, and will carry a coupon interest rate of 12.75% per annum. The notes will be secured initially by a lien on all aircraft spare parts owned by United that are located in the United States, subject to certain exceptions. UAL Corporation will be a guarantor of the notes. The company intends to use the net proceeds from the offering for general corporate purposes.
The notes are being offered under the Company's existing effective shelf registration statement. A prospectus supplement and accompanying prospectus describing the terms of the offering have been filed with the Securities and Exchange Commission.
Copies of the registration statement (including the base prospectus), the prospectus supplement and other documents United has filed with the SEC containing more complete information about United and the offering are available for free by visiting EDGAR on the SEC web site at http://www.sec.gov/. Alternatively, United, any underwriter or any dealer participating in the offering will arrange to send investors the prospectus if requested by contacting Goldman, Sachs & Co. at 1-866-471-2256 or Citigroup Global Markets Inc. at 212-723-6230.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About United
United Airlines operates over 3,300* flights a day on United and United Express to more than 200 U.S. domestic and international destinations from its hubs in Los Angeles, San Francisco, Denver, Chicago and Washington, D.C. With key global air rights in the Asia-Pacific region, Europe and Latin America, United is one of the largest international carriers based in the United States. United also is a founding member of Star Alliance, which provides connections for our customers to 912 destinations in 160 countries worldwide. United's 48,500 employees reside in every U.S. state and in many countries around the world. News releases and other information about United can be found at the company's Web site at united.com.
