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TUI: Holders may be able to put or convert £400 million 4.9% notes
By Susanna Moon
Chicago, Oct. 30 – TUI AG said holders may be able to put or convert TUI Travel’s 4.9% £400 million convertible bonds due 2017 under the change-of-control provisions triggered by their planned merger.
The conversion price likely will be adjusted due to the change of control that will occur when their merger closes Dec. 17, according to a news release.
The details will be announced later.
The paying and conversion agent will be Citibank, NA, London Branch (+353 1 622 0865 / +353 1 622 2211, fax +353 1 622 2212 / +353 1 506 0339).
TUI Travel is a West Sussex, United Kingdom-based leisure travel group. TUI AG is a Hannover, Germany-based travel and tourism company. The merged company will be based in Germany.
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