WOW Air has closed its €60 million (7.7 billion krónur) bond issue, with €10 million sold to investors. The three-year Eurobonds bear a 9% Euribor rate and purchase option on WOW shares. Pareto Securities and Arctica Finance are bookrunners. WOW Air confirmed that the new investors participating in the issue are international and Icelandic. The Icelandic airline also announced that it has appointed Arion Bank and Arctica Finance to begin preparations for the company to float on the stock market in 12-18 months’ time, both in Iceland and overseas. The company expects to raise $300 million. “We are thankful for
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