By Paul A. Harris
Portland, Ore., Oct. 28 - Air Berlin plc & Co. Luftverkehr KG announced in a Friday press release that it has closed the oversubscribed order book for its €100 million issue of 11½% notes due Nov. 1, 2014.
The notes are priced at par to yield 11½%.
Quirin Bank AG was the bookrunner.
The Berlin-based air carrier plans to use the proceeds to refinance debt.
"I am very pleased with the result," Air Berlin chief financial officer Ulf Huttmeyer stated in the release.
"In this manner we have pro-actively provided the requirements for refinancing existing liabilities despite difficult framework conditions in the market."
| Issuer: | Air Berlin plc & Co. Luftverkehr KG
|
| Amount: | €100 million
|
| Maturity: | Nov. 1, 2014
|
| Securities: | Bonds
|
| Bookrunner: | Quirin Bank AG
|
| Coupon: | 11½%
|
| Price: | Par
|
| Yield: | 11½%
|
| Call protection: | Subject to early redemption
|
| Announcement date: | Oct. 28
|
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