United Airlines (NASDAQ:UAL) has borrowed the full amount under a $500M term loan it arranged last week with Goldman Sachs, it says in a filing.
On March 20 the company entered into a credit agreement, and it borrowed the full amount of the loan in two disbursements (on March 23 and March 24).
It used proceeds to pay some transaction fees and expenses, and for working capital and general purposes.
The loan is due in a single installment on March 22, 2021.
UAL is up 3.6% after hours; shares fell 2.9% today.