Printer Friendly

UAL CORP. ANNOUNCES COMPLETION OF CONVERTIBLE PREFERRED STOCK SALE

 CHICAGO, Feb. 12 /PRNewswire/ -- UAL Corp. (NYSE: UAL), parent company of United Airlines, announced today that it had sold 6.0 million shares of its cumulative 6.25 percent Series A Convertible Preferred Stock for $600 million. The shares, which were sold in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, are not publicly registered.
 The proceeds of the issue will be added to the working capital of UAL and will be available for general corporate purposes, among which may be the repayment of debt and financing of capital expenditures by United.
 The convertible preferred stock is convertible into UAL's common stock at any time after March 24, 1993, at a conversion price of $156.50 per share. The stock is not redeemable by UAL before May 1, 1996.
 Merrill Lynch & Co. was lead manager of the issue, with The First Boston Corporation and Lehman Brothers as co-managers.
 -0- 2/12/93
 /CONTACT: Joe Hopkins, 708-952-5770, or night 708-952-4088, or Pamela Hanlon, (investors), 708-952-7501, both of UAL corporate communications/
 (UAL)


CO: UAL Corp. ST: Illinois IN: AIR SU:

TM -- NY040 -- 6222 02/12/93 14:48 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 12, 1993
Words:195
Previous Article:PRUDENTIAL HOME MORTGAGE CERTIFICATES 1993-5 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:QUAKER STATE TO CLOSE HELEN MINING COMPANY FACILITY
Topics:


Related Articles
UAL CORP. AND UNITED AIR LINES, INC. FILE SHELF REGISTRATION STATEMENT
AIR METHODS OFFERS UP TO $25 MILLION OF CONVERTIBLE PREFERRED STOCK
UAL CORPORATION SUBMITS DEFINITIVE DOCUMENTATION WITH THE SEC; DIRECTORS NAMED
UAL RECAPITALIZATION PACKAGE -- CASH COMPONENT NOTED
UAL CORP. ANNOUNCES UNDERWRITING FIRMS FOR RECAPITALIZATION TRANSACTION
UAL CORP. DIRECTORS DECLARE DIVIDENDS ON PREFERRED STOCK
UAL CORP. FILES REGISTRATION STATEMENT FOR PREFERRED STOCK EXCHANGE OFFER WITH THE SEC
UAL CORP. COMMENCES PREFERRED STOCK EXCHANGE OFFER
UAL CORPORATION ANNOUNCES RESULTS OF EXCHANGE OFFER
UAL Corporation's Board Declares Dividend.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters