United Airlines Inc. shelved two municipal bond issues as the volatility hitting other asset classes makes a rare appearance in the state and local government debt market.
The airline had tried to tap muni investors to finance facilities at George Bush Intercontinental Airport in Houston. An issue for $102.8 million was expected to finance a portion of the design and construction of a ground services equipment facility and a separate $145.6 million series go toward a new catering center, according to offering documents. The bonds were high yield, carrying a BB+ rating from S&P Global Ratings.