23-Aug-2010 10:28 AM

Continental completes private offering of senior secured notes

Continental Airlines announced (20-Aug-2010) it completed its private offering of USD800 million aggregate principal amount of 6.750% senior secured notes due 2015. The senior secured notes were sold only to qualified institutional buyers. They were issued under an Indenture, dated 18-Aug-2010, among Continental, Continental’s wholly owned subsidiaries Air Micronesia, Inc (AMI) and Continental Micronesia, Inc (CMI), as guarantors, The Bank of New York Mellon Trust Company, NA, as trustee, and Wilmington Trust FSB, as collateral trustee. The senior secured notes will mature on 15-Sep-2015 and bear interest at a rate of 6.750% p/a, payable semi-annually on 15-Mar and 15-Sep of each year, beginning 15-Mar-2011. [more]