10th Jun 2014 16:22
LONDON (Alliance News) - Ryanair Holdings PLC Tuesday said it has issued its first ever Euro Bond, worth EUR850 million at 1.875%, fixed for seven years, forming part of its strategy to access the debt capital markets to source low cost financing for new aircraft due to be delivered later this year.
The budget airline business hopes adding 180 Boeing 737-800 aircraft to its fleet will enable it to grow by 40% over the next five years to over 100 million customers a year.
Ryanair said the bond was more than eight times over-subscribed and investors were attracted to its strong rating from Standard & Poor's and Fitch.
The bond will be listed on the Irish Stock Exchange, which offers access to investors both in Europe and the rest of the world.
The coordinator for the bond was Citibank, while the joint book runners were BNP Paribas, Citibank, and Deutsche Bank.
Ryanair Holdings shares closed up 0.5% at EUR7.61 Tuesday.
By Anthony Tshibangu; [email protected];
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
RYA.L