Continental plans to issue notes for aircraft financing

By:  
Washington DC
Source:
This story is sourced from Pro
See more Pro news »

Houston-based Continental Airlines today told US regulators it plans to issue $644 million in notes to finance eight aircraft currently owned by the carrier and 11 scheduled fro delivery from January to June of next year.

The all-Boeing operator says Wilmington Trust is serving as the pass through trustee. The notes are being issued in two series - $527.6 million bearing a 7.25% annual interest rate and $116.8 million yielding a 9.25%.

Interest on the notes will be paid semi-annually beginning in 10 May next year.