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Finnair considers new note issuance

Finnair is considering the issuance of new euro-denominated fixed rate notes with an expected maturity of five years. The potential issue is expected to take place “in the near future” and subject to market conditions. The target size of the issue is minimum €150 million.

At the same time, Finnair is inviting the holders of its €150 million 5.000 per cent notes due 29 August 2018 to tender for cash according to the terms of the tender offer. Finnair proposes to accept for purchase any and all of the 2018 notes, while reserving the right not to purchase certain notes. The decision to go ahead with this plan is subject to the pricing of the issue of new notes. The purchase price of the 2018 Notes is €1,070.96 per €1,000.00 in principal amount of the 2018 Notes.

The purpose of the arrangement is to proactively manage upcoming debt redemptions and to extend Finnair’s average debt maturity profile.

Danske Bank and Nordea Bank act as dealer managers, and Nordea Bank acts as tender agent for the tender offer.

Danske Bank and Nordea Bank act as joint lead managers for the issue of new notes.

Date: March 13, 2017

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