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Continental EETC oversubscribed

05 November 2009

Continental finances 11 new Boeing aircraft and refinance another eight with $650 million bond.

Read more: [Continental] [bond] [Morgan Stanley] [Goldman Sachs] [Credit Suisse] [enhanced equipment trust certificate] [EETC] [aircraft]

Continental Airlines has raised $650 million with a bond that was four times oversubscribed. Morgan Stanley, Goldman Sachs and Credit Suisse are joint structuring agents and bookrunners for the two-tranche structure.

 

Natixis will provide a liquidity facility for the Class A and B certificates.

 

The class A enhanced equipment...


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This may change how Ex-Im works for the next twenty years.

Bob Morin, vice president of transportation division at Americas Export-Import Bank, says the bank will be guaranteeing alternative sources of financing.