Air Berlin exercises clean up call for 1.5% convertibles due 2027

New York, July 14 – Air Berlin plc will redeem its remaining 1.5% guaranteed convertible bonds due 2027 issued via Air Berlin Finance BV.

The bonds will be repaid on Aug. 9 at par plus accrued interest up to but excluding the redemption date, according to a notice.

Holders may convert the bonds into shares at a price of €22.47. Air Berlin stock closed at €0.835 on July 13.

The company said it is able to redeem the bonds because only €200,000 of the original €220 million remain outstanding, below the 15% threshold to exercise the clean up call.

Air Berlin is a Berlin-based airline.

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