UAL Corp. arranges $3 billion financing to exit bankruptcy

UAL Corp. arranges $3 billion financing to exit bankruptcy    UAL Corp., parent company of United Airlines, said Thursday it has arranged a $3 billion all-debt exit financing package with JPMorgan and Citigroup, to help United’s exit from bankruptcy. The financing has a term of six years.
   “United is a far different company coming out of bankruptcy than it was going in. Our demonstrated ability to restructure resulted in four major banks competing vigorously to provide exit financing, and today’s agreement reflects the market’s confidence in United,” said Jake Brace, UAL’s executive vice president and chief financial officer.
   UAL said it expects United Airlines to exit from bankruptcy in February.