27th Jun 2019 08:37
(Alliance News) - British Airways parent International Consolidated Airlines Group SA on Thursday said EUR447.4 million worth of bonds were tendered pursuant to a previously announced bond repurchase offer.
The company on Monday announced a tender offer to repurchase EUR500 million worth of 0.25% Convertible Bonds due November 17, 2020. Subsequently, on Wednesday, it upped the repurchase price for the bonds to EUR100,350 per EUR100,000 of bonds from EUR100,200 per EUR100,000.
The EUR447.4 million bonds tendered under the offer represents 89.48% of the outstanding aggregate principal amount of the bonds.
IAG, which also owns Spanish carrier Iberia, intends to redeem all remaining bonds once the repurchased bonds are cancelled.
Shares in IAG were trading 1.8% higher at 457.50 pence each on Thursday morning.
Related Shares:
International Airlines