United Airlines has priced two tranches of enhanced equipment trust certificates, which mature in March 2030: $677.175 million class AA certificates, which are rated AA by Fitch and have an initial loan to value (LTV) of 42.6%, carry a 3.50% coupon with a 125 basis point make-whole spread over treasuries; and $257.965 million class A certificates, rated A with an LTV of 58.9%, carry a coupon of 3.700% and make-whole spread of 150bps. The notes are secured by a perfected first priority security interest in two 737-800s, six 737 MAX 9s, five 787-9s, and three 777-300ERs. Lead underwriters are Credit

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