21-Sep-2012 1:14 PM

United Continental issues USD844m EETC

United Continental Holdings issued (20-Sep-2012) enhanced equipment trust certificates (EETC) worth USD843.89 million. Proceeds will be used for the purchase of new aircraft. The carrier will issue two classes of certificates, including USD711.6 million in Class A, with an interest rate of 4% and a final expected distribution date of 29-Oct-2024, and USD132.3 million at an interest rate of 5.5% with a final expected distribution date of 29-Oct-2020. The 21 aircraft to be financed pursuant to the offering will consist of 18 Boeing 737-900ER aircraft and three 787-8 aircraft scheduled for delivery between Nov-2012 and Sep-2013. The 787-8 aircraft will be selected by Continental from among four 787-8 aircraft. [more - original PR]