UAL Secures $2 Billion for Chapter 11 Exit
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From Reuters From Bloomberg News From Dow Jones / Associated Press
UAL Corp., parent of United Airlines, said it had obtained $2 billion in loans that would help it emerge from bankruptcy protection.
UAL said the financing would be provided by J.P. Morgan Chase & Co. and Citigroup Inc. Each agreed to underwrite $200 million of the non-guaranteed portion of the loan and $800 million of the guaranteed portion.
The loan package requires a guarantee from the federal Air Transportation Stabilization Board.
From Reuters
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