Milbank, Tweed, Hadley & McCloy LLP, led by Global Securities partner Arnold Peinado, Transportation and Space partner Hugh Robertson and Global Securities special counsel Kevin MacLeod, acted as US counsel to the underwriters in a public offering of $949 million aggregate face amount of enhanced equipment trust certificates (“EETCs”) by United Airlines, Inc. (“United”).
United sold $736,647,000 aggregate face amount of 4.000% Pass Through Certificates, Series 2014-1A and $212,812,000 aggregate face amount of 4.750% Pass Through Certificates, Series 2014-1B. United will use the proceeds of the certificates to purchase 16 new Boeing aircraft and nine new Embraer aircraft scheduled for delivery in 2014 and 2015.
Morgan Stanley and Credit Suisse acted as lead bookrunners for a syndicate of seven underwriters that included Deutsche Bank Securities, Citigroup, Barclays, Goldman, Sachs & Co. and Credit Agricole Securities, as bookrunners.
Other Milbank attorneys involved in this transaction included Global Securities associates Jennifer Beaudry, Meredith Hines, Okeoma Moronu and Matt Kusel; Transportation and Space associates Samir Patel and Alessandra Tarcher; Tax partner Andrew Walker and associates Lysondra Ludwig and Erika Hauser; and Executive Compensation and Employee Benefits partner Joel Krasnow.
Transportation and Space partner Helfried Schwarz and associate Niels Jensen represented Crédit Agricole Corporate and Investment Bank, acting via its New York Branch, in its roles as liquidity provider and depositary.
