TUI to place €300 million five-year sustainability-linked notes

By Paul A. Harris

Portland, Ore., Feb. 26 – TUI AG launched a €300 million placement of five-year sustainability-linked notes (B1/B+) on Monday according to market sources.

The notes, which are to be issued under the company’s sustainability-linked finance framework, target a reduction of its airline CO2-emissions per revenue passenger kilometer by at least 11% by the end by the end of the financial year ending on Sept. 30, 2026, compared to the financial year that ended on Sept. 30, 2019.

The Hanover, Germany-based leisure, travel and tourism company plans to use the proceeds to repay liabilities and reduce the KfW credit line.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.