14th Jan 2021 09:53
(Alliance News) - Wizz Air Holdings PLC on Thursday announced the pricing of its debut bond issue, which was "multiple times" oversubscribed.
The budget airline priced its offering of EUR500 million 1.35% notes due 2024, which is set to close Tuesday next week.
The offering was part of Wizz's euro medium-term note programme, announced August last year, and the company intends to use the proceeds in order to "further strengthen its leading liquidity position".
The company noted its BBB- Fitch and Baa3 Moody's ratings and said "the offering was multiple times oversubscribed".
Wizz's joint bookrunners for the bond offering were Barclays PLC, BNP Paribas SA, Citigroup Inc, and JPMorgan Chase & Co.
Chief Executive Jozsef Varadi said: "We are pleased to announce our debut bond offering which demonstrates Wizz Air's access to alternative financing markets at highly attractive pricing. The proceeds will further strengthen Wizz Air's already excellent liquidity position providing continued flexibility to respond to growth opportunities, as well as providing additional financial resilience."
The airline will post its third quarter results for the three months ended December 31 on January 28.
Shares in Wizz were up 1.4% at 4,236.00 pence in London on Thursday morning.
By Anna Farley; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Wizz AirBarclays