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

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

THE BALTIMORE SUN

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
57°