Airbus gives results, pricing for €1 billion tender offer for notes

By Wendy Van Sickle

Columbus, Ohio, June 21 – Airbus SE announced the results of its tender offer for €1 billion nominal amount of notes from six series.

The offer was announced on June 10.

The following tenders were accepted at the prices listed:

• €176,996,000 notes tendered and accepted of the €1 billion of 2.375% notes due April 2, 2024 with a Jan. 2, 2024 call date (ISIN: XS1050846507) at a price of 101.354, based on the 2024 notes interpolated mid-swap rate plus 5 basis points;

• €188,757,000 tendered and accepted of the €750 million outstanding 1.625% notes due April 7, 2025 with a Jan. 7, 2025 call date (ISIN: XS2152795709) for 98.889, based on the 2025 notes interpolated mid-swap rate plus 10 bps;

• €139,446,000 tendered and accepted of the €600 million outstanding 0.875% notes due May 13, 2026 with a Feb. 13, 2026 call date (ISIN: XS1410582586) for a price of 95.121, based on the May 2026 notes interpolated mid-swap rate plus 10 bps;

• €355,629,000 of the €1.25 billion of 1.375% notes due June 9, 2026 with a March 9, 2026 call date (ISIN: XS2185867830) for 96.88, based on the June 2026 notes interpolated mid-swap rate plus 10 bps;

• €232,076,000 tendered and €139,172,000 accepted at a scaling factor of 58.7935% of the €750 million outstanding 2% notes due April 7, 2028 with a Jan. 7, 2028 call date (ISIN: XS2152796269) for 97.904, based on the 2028 notes interpolated mid-swap rate plus 15 bps; and

• €281,067,000 tendered and zero accepted of the €1.25 billion outstanding 1.625% notes due June 9, 2030 with a March 9, 2030 call date (ISIN: XS2185867913).

Pricing was determined at 6 a.m. ET on June 20.

For the first series, pricing took into account the par call date. For the other series, the maturity dates were used.

Accrued interest will also be paid.

Noteholders had until the expiration deadline, 11 a.m. ET on June 17, to tender their notes. Instructions are irrevocable.

Settlement was expected on June 21.

The dealer managers for the offer are Barclays Bank Ireland plc (+44 20 3134 8515, eu.lm@barclays.com), Morgan Stanley Europe E SE (+44 20 7677 5040, liabilitymanagementeurope@morganstanley.com), Natixis (+33 1 58 55 05 56, liability.management-corporate@natixis.com) and NatWest Markets NV (+33 1 73 24 98 80, NWMliabilitymanagement@natwestmarkets.com).

The information and tender agent is Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, https://projects.morrowsodali.com/airbus, airbus@investor.morrowsodali.com).

Airbus is conducting the offers to reduce gross debt by utilizing surplus liquidity.

Airbus is a multinational European aerospace and defense company based in Toulouse, France.

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