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International Consolidated ups repurchase price for 0.25% convertible
By Sarah Lizee
Olympia, Wash., June 26 – International Consolidated Airlines Group SA increased the repurchase price under its offer to repurchase €500 million of 0.25% convertible bonds due Nov. 17, 2020, according to a notice.
Per €100,000 of bonds, eligible holders will receive €100,350 in cash, plus accrued interest from and including May 17 to but excluding the date of the repurchase of notes. The repurchase price was previously set at €100,200 per €100,000 of bonds.
As previously reported, the notes will be repurchased by way of reverse book building and is subject to the potential issuance of a new euro-denominated senior unsecured bond.
Fixed-income investor meetings have been set regarding the potential new issue.
BNP Paribas and J.P. Morgan Securities plc are acting as dealer managers in respect of the buyback invitation of Regulation S bonds.
London-based International Consolidated Airlines is the holding company of British Airways, Iberia and Vueling.
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