Continental Airlines enters equipment note deal
NEW YORK (Reuters) - Continental Airlines Inc (CAL.N: Quote, Profile, Research) said on Thursday that it made an agreement with Wells Fargo (WFC.N: Quote, Profile, Research) and Wilmington Trust (WL.N: Quote, Profile, Research) to finance planes.
Wilmington Trust said it will provide corporate trustee services only for the transaction. It is not lending money to Continental.
In a securities filing, Continental said the agreement provides for future issuance of notes in the amount of $389.7 million to finance 12 owned and five new Boeing (BA.N: Quote, Profile, Research) planes scheduled for delivery from July through September.
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