Advanced Theory & Practice of Bonds

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United Beats on Q4 Earnings; Warns of Higher Costs in Q1

United Raises $4 Billion via Two-Trancher

United Airlines raised $4bn via a two-trancher: $2bn via a 5Y bond at a yield of 4.375%, ~30bp inside initial guidance of 4.625%-4.75% $2bn via a 8Y bond at a yield of 4.625%, ~31.25bp inside initial guidance of 4.875%-5% The bonds have expected ratings of Ba1/BB-....
United Beats on Q4 Earnings; Warns of Higher Costs in Q1

United Airlines Lining Up $9bn Debt Sale

United Airlines announced it will raise $9bn through a combination of loans and bonds. Part of the borrowing will go towards paying-off $520mn that the airline borrowed from the federal government program last year as airlines suffered due to the pandemic. Proceeds...
United Downgraded to B+

United Downgraded to B+

Fitch downgraded American carrier United Airlines to B+ from BB- and revised the outlook to stable. The rating action primarily focused on the slow pace of air traffic recovery and balance sheet pressure. While passenger traffic has improved on peak days, Fitch...
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