Lufthansa and SIA capital market success

Deutsche Lufthansa successfully issued an unsecured €1bn 5.5 year Eurobond, which was reported to be oversubscribed by about 4 times after what it termed as “successful investor meetings the day before”. The bonds priced with a 3.0% coupon, which tightened considerably from initial price guidance of 3.875%. This is the airline’s first corporate bond since the pandemic crisis hit and the deal hit at the right time as airline stocks and credits were given a boost by the positive coronavirus vaccines news of the past two weeks. Joint bookrunners on the Eurobond are Credit Suisse, Deutsche bank, Morgan Stanley and