Full coverage: Mayor Pugh's 'Healthy Holly' books, UMMS board deals

UAL modifies bond, stock issuesUAL Corp., the...


UAL modifies bond, stock issues

UAL Corp., the parent of United Air Lines, sold $1.15 billion in bonds and preferred stock yesterday, after being forced by reluctant investors both to raise interest rates and to cut the amount of preferred stock being sold.

As a result of the shortfall, the company has said it will contribute $300 million from its cash holdings to shareholders if they approve a sweeping reorganization giving employees majority control of the airline in return for wage and benefit concessions.

Copyright © 2019, The Baltimore Sun, a Baltimore Sun Media Group publication | Place an Ad