IAG issues €1 billion senior unsecured bonds

Darren Wood
By Darren Wood July 1, 2019 14:36

IAG issues €1 billion senior unsecured bonds

International Airlines Group (IAG) has issued two tranches of senior unsecured bonds.

The first tranche has a proposed initial principal amount of approximately €500 million due 4 July, 2023.

IAG’s second tranche has a proposed initial principal amount of approximately €500 million due 4 July, 2027.

The aggregate principal amount of the Bonds shall not exceed €1 billion.

Final terms of the Bonds, issued at 100%, are expected to be determined and announced shortly and settlement is expected to take place on or about 4 July, 2019.

The net proceeds from the offering will be used by IAG for general corporate purposes.

BNP Paribas and J.P. Morgan Securities plc act as joint global co-ordinators and, together with Merrill Lynch International, as joint lead bookrunners.

Banco Santander, S.A. and Credit Agricole Corporate and Investment Bank act as passive bookrunners. Banco Bilbao Vizcaya Argentaria, S.A., Barclays Bank plc, Deutsche Bank AG, London Branch, HSBC Bank plc, NatWest Markets plc and Standard Chartered Bank act as co-lead managers.

Darren Wood
By Darren Wood July 1, 2019 14:36