Continental Airlines, Inc. announced that it has completed its sale of 5% Convertible Notes due 2023 which was announced last week…
Continental Airlines, Inc. announced that it has completed its sale of 5% Convertible Notes due 2023 which was announced last week. In addition to the offering of $150 million principal amount of notes, the company announced that the initial purchasers had exercised their option to purchase an additional $25 million principal amount of notes. Net proceeds of the offering after expenses and commissions are expected to be approximately $170 million, which will be used for working capital and general corporate purposes.
The Notes and the common stock issuable upon conversion of the Notes have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
