Finnair redeems the outstanding share of €38.3 million of the Nov 2012 hybrid bond

Eleanor Steed
By Eleanor Steed October 13, 2016 09:36

Finnair redeems the outstanding share of €38.3 million of the Nov 2012 hybrid bond

Finnair has redeemed the outstanding share of the €120 million hybrid bond issued on November 26, 2012. The outstanding share amounts to €38.3 million.

The redemption will be made on November 26, 2016 in accordance with the terms and conditions of the hybrid bond.

In October 2015, Finnair repurchased, by a public tender offer, €81.7 million of the hybrid bond issued on November 26, 2012.

After this transaction, the €200 million hybrid bond issued by Finnair on 13 October 2015 will remain outstanding. The hybrid bond has no maturity date but the issuer is entitled to redeem the hybrid bond five years after the issue date.

A hybrid bond is an instrument which is subordinated to the company’s other debt obligations and treated as equity in the IFRS financial statements. The hybrid bond does not confer to its holders the rights of a shareholder and does not dilute the holdings of the shareholders.

Eleanor Steed
By Eleanor Steed October 13, 2016 09:36