18th Mar 2021 09:15
(Alliance News) -Â International Consolidated Airlines Group SA on Thursday said it is planning to offer a total of EUR1.00 billion in bonds.
The first tranche has a proposed initial principal amount of EUR500.0 million due March 25, 2025. The second tranche is worth EUR500.0 million and is due March 25, 2029.
The final terms of the bonds, including the principal amount of each series, are expected to be determined and announced shortly, and settlement is expected to take place around Thursday next week, IAG said.
The proceeds will be used for general corporate purposes, including strengthening IAG's balance sheet and increasing liquidity, helping the group to weather a more prolonged downturn in air travel due to the virus pandemic and providing the operational and strategic flexibility to take advantage of a recovery in demand, it said.
Shares in the British Airways owner were down 0.5% at 215.20 pence in London early Thursday.
By Lucy Heming;Â [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
International Airlines