United Airlines, Inc. has announced the upsizing of its previously announced private offering by Mileage Plus Holdings, LLC to an aggregate of UD 3.8 billion in principal amount of 6.50% senior secured notes due 2027, the company said.
The notes are expected to be issued on July 2, 2020, subject to customary closing conditions. Concurrently with the issuance of the Notes, United expects the MileagePlus Subsidiaries to enter into a credit agreement providing for a term loan facility for an aggregate of USD 3.0 billion, also subject to customary closing conditions. The Notes and the Term Loan Facility, in a total aggregate amount of USD 6.8 billion, replace the previously announced committed term loan facility.
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