Air Transport World

ExpressJet Holdings.(private placement)

ExpressJet Holdings, parent of ExpressJet, completed the private placement of $125 million of 4.25% convertible notes due 2023 that was announced July 28. The company also contributed $5 million of additional notes pursuant to an option granted to the initial purchasers. ExpressJet said it will use the net proceeds from the sale to repurchase approximately $122 million of its common stock from Continental Airlines at a discount to the market price.

In related news, Continental said it agreed to sell a portion of its common shares of ExpressJet Holdings to ExpressJet, thereby reducing its ownership by about 8% to 45%. …

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