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Latvia’s Air Baltic cancels redemption, pulls notes from market
Chicago, Nov. 13 – Air Baltic Corp. AS retracted its conditional notice of redemption and pulled an offering of bonds that would have been used to finance the redemption from the market, according to a press release.
The airline was going to redeem its €200 million of 6¾% bonds due July 2024 (ISIN: XS1843432821) with the proceeds of a new offering.
However, the financing condition was not satisfied.
J.P Morgan SE, Morgan Stanley Europe SE and Luminor Bank AS had been chosen as bookrunners for dollar-denominated fixed-rate bonds in late September.
The company notified noteholders of the outstanding bonds on Oct. 11.
Air Baltic is a government owned airline in Latvia.
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