ANA Holdings details offering of 0% convertible bonds due 2031

Chicago, Nov. 29 – ANA Holdings Inc.’s priced an offering of 0% convertible bonds due 2031, according to a company announcement.

The company is receiving proceeds from the sale of ¥149.89 billion.

The conversion price is ¥2,883 per share versus the share price on the pricing date of ¥2,620.5, representing a conversion premium of 10.02%.

The bonds are being sold at par, or alternatively at 102.5 with stock acquisition rights.

The bonds will be redeemed at par on Dec. 10, 2031.

The offering will close on Dec. 10.

Approximately ¥50 billion of net proceeds will be used to promote the company’s Business Structure Reform Plan, ¥70 billion will be used to redeem the company’s convertible bonds due Sept. 16, 2022 with the remainder to be used for the repayment of long-term debt.

ANA Holdings is a Tokyo-based holding company primarily engaged in the aviation business.

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