United Mileage Plus brings $2 billion loan B, plans $3 billion other secured debt

By Sara Rosenberg

New York, June 22 – United Mileage Plus is set to hold a lender call at 11 a.m. ET on Tuesday to launch a $2 billion first-lien term loan B, according to a market source.

Goldman Sachs Bank USA, Barclays and Morgan Stanley Senior Funding Inc. are the lead arrangers on the deal.

Proceeds will be used with $3 billion of other secured debt to refinance a bridge facility, to fund the notes reserve account and the reserve account for the term loan, and to make an intercompany loan to United Airlines Inc. that will be used for general corporate purposes.

Mileage Plus is the loyalty program of United Airlines, a Chicago-based airline company.

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