Thomas Cook launches €300M bond issue

Eleanor Steed
By Eleanor Steed November 28, 2016 10:53

Thomas Cook launches €300M bond issue

Thomas Cook has launched a €300 million offering of unsecured notes due June 2022. The paper — which is not callable for the first 2.5 years — is being led by joint global coordinators and physical bookrunners Bank of America Merrill Lynch (B&D), DNB, and Lloyds. Bookrunners are Société Générale CIB, Barclays, BNP Paribas, Citi, Credit Mutuel, Credit Suisse, KBC, Morgan Stanley, RBS and UniCredit. The bonds are expected to be rated at B/B1/B+.

Thomas Cook will use the proceeds to fully redeem its £200 million of 7.75% notes due 2017, and some of its €525 million of 7.75% notes due 2020.

Eleanor Steed
By Eleanor Steed November 28, 2016 10:53