TUI Launches Tap Bond Issuance for Up to EUR190 Million
28 Juni 2021 - 06:16PM
Dow Jones News
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)
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