TUI AG Expects EUR200 Million Funds Inflow From Tap Bond Offering
29 Juni 2021 - 7:17AM
Dow Jones News
By Joe Hoppe
TUI AG said it has successfully completed its tap offering of
convertible bonds and expects a funds inflow of around 200 million
euros ($238.5 million).
The German travel operator said its offering had a principal
amount of EUR190 million, issued at a price of 105.86% of their
original amount, resulting in an inflow of around EUR200
million.
The bonds are due in 2028 and are fully fungible with the EUR400
million bonds issued on April 16.
TUI intends to use the money for refinancing, and in particular
to further reduce drawings under the KfW facilities--which are
backed by the German state--and toward a subsequent repayment of
such facilities.
Citigroup Global Markets Europe AG, Credit Agricole Corporate
and Investment Bank, HSBC and UniCredit Bank AG are acting as joint
global coordinators and joint bookrunners for the offering.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
June 29, 2021 01:14 ET (05:14 GMT)
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