Continental Airlines plans $200M debt offering


HOUSTON – Continental Airlines Inc. said Monday it plans a $200 million offering of convertible senior notes due 2015.

The airline anticipates using proceeds from the public offering for general corporate purposes.

Continental said it plans to give the underwriters a 30-day option to buy up to an additional $30 million in notes to cover any overallotments.

Shares of Continental slid 74 cents, or 4.4 percent, to $16 in premarket activity. The stock has ranged from $6.37 to $21.83 over the past year.