By Jaime Llinares Taboada

 

TUI AG said Monday that it is launching a tap offering of convertible bonds for up to 190 million euros ($226.8 million).

The German travel operator said 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.

Settlement is expected to take place on or around July 6, and TUI intends to apply for the bonds to be included in the trading of its existing bonds on the Frankfurt Stock Exchange.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

June 28, 2021 12:03 ET (16:03 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Tui (XE:TUI1)
Historical Stock Chart
Von Dez 2021 bis Jan 2022 Click Here for more Tui Charts.
Tui (XE:TUI1)
Historical Stock Chart
Von Jan 2021 bis Jan 2022 Click Here for more Tui Charts.