Virgin Australia launches $350 million equity offering

Virgin Australia Holdings (Virgin Australia) is undertaking a fully underwritten 5 for 14 pro rata accelerated non-renounceable entitlement offer to raise gross proceeds of approximately $350 million. Entitlements are offered on a 5 for 14 basis at A$0.38 per share (approximately 925 million new ordinary shares) to eligible shareholders. Virgin Australia’s major shareholders and strategic partners are supportive of the Entitlement Offer and will be taking up their full entitlements. Air New Zealand, Singapore Airlines and Etihad Airways will also sub-underwrite the Entitlement Offer or commit to increase their economic exposure via cash settled derivatives. Eligible retail shareholders who take