March 12, 2020 / 11:53 AM / a month ago

United Airlines raises $2 billion in term loan

March 12 (Reuters) - United Airlines said on Thursday it had raised $2 billion in a term loan facility to pay certain transaction fees and expenses and for general corporate purposes.

U.S. companies have been rushing to borrow more money and boost their cash coffers this week, as market turmoil fueled by a plunge in oil prices and the coronavirus outbreak raised the prospect of an economic downturn.

Boeing Co said on Wednesday it was planning to draw down the rest of a $13.8 billion loan it agreed last month. (Reporting by Rachit Vats in Bengaluru; Editing by Maju Samuel)

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