United Airlines Holdings, Inc. · NASDAQ:UAL
United Airlines — IPO Roadshow (October 2017)
10 slides from United Airlines's IPO roadshow presentation, Oct 23, 2017
Slide 1: United Airlines Series 2016-2B EETC Investor Presentation
United Airlines Series 2016-2B EETC Investor Presentation October 23, 2017 Issuer Free Writing Prospectus Filed pursuant to Rule 433(d) Registration No. 333-203630-01 Dated October 23, 2017
Slide 2: Forward-looking statements
Certain statements included in this presentation are forward-looking and thus reflect our current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Such forward-looking statements are and will be subject to many risks and
Slide 3: Registration statement and prospectus notice
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete informati
Slide 4: Offering of Pass Through Certificates, Series 2016-2B
United Airlines, Inc. (“United” or “UAL”) intends to raise $236,173,000 through the offering of Pass Through Certificates, Series 2016-2B (the “Certificates”) United previously issued $636,512,000 and $283,081,000 aggregate face amount of Pass Through Certificates, Series 2016-2 Class AA and Class A
Slide 5: United Series 2016-2B EETC structural summary
United Series 2016-2B EETC structural summary Existing 2016-2 Class AA2 Existing 2016-2 Class A2 2016-2 Class B Initial Face Amount $636,512,000 $283,081,000 $236,173,000 Current Rating / Expected Ratings (Moody’s/Fitch)1 Aa3/AA A1/A Baa2/BBB Initial LTV / Maximum LTV3 40.2% / 40.2% 58.1% / 58.1% 73
Slide 6: Key structural elements
Key structural elements One Class of Certificates Offered Class B amortizing debt which will benefit from a liquidity facility covering three semi-annual interest payments Waterfall (Same as senior debt in UAL 2016-2 EETC) Same waterfall both before and after an event of default Interest on Preferre
Slide 7: Aircraft collateral summary – base values
Aircraft collateral summary – base values Aircraft Aircraft Narrow / Registration Manufacturer's Engine MTOW Delivery Base Value ($mm) No. Type Widebody Number Serial Number Type (lbs) Date AISI BK MBA LMM(1) 1 Boeing 737-800 Narrow N77538 63694 CFM56-7B27E/F 174,200 Dec-16 $47.31 $46.69 $46.57 $46.
Slide 8: Aircraft collateral – key observations
1 Lesser of the mean and median of the base values of each aircraft as appraised by AISI and MBA as of September 2017, and by BK as of October 2017. An appraisal is only an estimate of value and should not be relied upon as a measure of realizable value Aircraft collateral – key observations Collate
Slide 9: Aircraft collateral – importance to United's fleet
Aircraft collateral – importance to United’s fleet Note: Information provided by United Airlines Aircraft type 737-800 737-900ER Importance to United 787-9 777-300ER United Airlines operates 141 Boeing 737-800 aircraft, 19% of its mainline fleet as of September 30, 2017 The Boeing 737-800 operates o
Slide 10: Series 2016-1B EETC October [23], 2017
Series 2016-1B EETC Investor Presentation October [23], 2017