Charter tour operator group TUI has completed its tap offering of convertible bonds for an aggregate principal amount of approximately €590 million.
ISIN: DE000A3E5KG2
TUI intends to use the proceeds from the offering for refinancing, in particular to further reduce drawings under its KfW facilities and towards a subsequent repayment of such facilities.
The new bonds will be issued on the same terms (save for the issue price) as the existing bonds issued in April and will form a single series with the existing bonds.
The new bonds shall be issued at a price of 105.857% of their principal amount as determined following an accelerated bookbuilding.
Citigroup Global Markets Europe, Credit Agricole Corporate and Investment Bank, HSBC and Unicredit Bank are acting as joint global coordinators and joint bookrunners for the offering.