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Published on 11/6/2017 in the Prospect News Bank Loan Daily.

United Airlines launches $1.49 billion term loan at Libor plus 200 bps

By Sara Rosenberg

New York, Nov. 6 – United Airlines Inc. launched on Monday a $1,493,000,000 senior secured term loan due April 1, 2024 that is talked Libor plus 200 basis points with a 0% Libor floor and a par issue price, according to a market source.

The term loan is getting 101 soft call protection for six months, the source said.

Barclays is the lead bank on the deal.

Commitments are due at 1 p.m. ET on Thursday, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 225 bps with a 0% Libor floor.

United Airlines is a Chicago-based airline operator.


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