26th Jun 2019 14:32
(Alliance News) - International Consolidated Airlines Group SA on Wednesday said it raised the repurchase price on its EUR500.0 million 0.25% convertible bonds due 2020.
The British Airways and Iberia operator has increase the repurchase price of its bonds to EUR100,350 per EUR100,000 of bonds from EUR100,200 per EUR100,000.
On Monday, IAG invited those holders of the 2020 bonds who are not US residents to tender their bonds through a reverse bookbuild. Aside from the increased price, the terms remain the same.
In its Monday announcement, IAG said it was considering a possible euro-denominated bond issue for corporate purposes, including bond refinancing. It also said at that time that the repurchase depends upon a new bond issue.
Shares in IAG were up 1.8% at 447.30 pence on Wednesday afternoon in London.
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