3rd Mar 2015 16:59
LONDON (Alliance News) - Ryanair Holdings PLC Tuesday said it has issued an eight-year, EUR850 million euro bond at a fixed coupon of 1.125%, which the company said secures further low-cost financing for its new aircraft orders.
"This follows Ryanair's very successful debut issuance in June 2014 and secures further low cost financing for our 380 new Boeing 737 aircraft orders, deliveries of which started in September 2014," said the company.
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 joint book runners were BNP Paribas, Citigroup, and Credit Agricole.
"The bond was more than 3 times oversubscribed, reflecting the strong demand from bond investors for Ryanair," said Chief Financial Officer Neil Sorahan. "This low cost finance, coupled with our attractively priced Boeing orders for 380 new Boeing 737 aircraft, will enable us to further reduce our aircraft ownership costs while continuing to offer the lowest fares and improving travel experience."
Ryanair shares closed down 0.3% to EUR9.91 per share on Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
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