TUI Group to lift €350m in recent capital | Information

TUI Group optimistic for summer 2021 despite continued losses | News

TUI Group has revealed plans to lift at the least €350 million in recent funding as the corporate seeks as to if the continued influence from the Covid-19 pandemic.

The brand new senior unsecured bonds will fall due in 2028.

TUI intends to make use of the money to additional enhance its liquidity place because the Covid-19 disaster continues and subsequently for the compensation of present financing devices.

The corporate stated the providing might go as excessive as €400 million.

The bonds, with a denomination of €100,000 every, might be issued at 100 per cent of their principal quantity.

Except beforehand transformed, redeemed or repurchased and cancelled, the bonds might be redeemed at their principal quantity on April 16th, 2028.

The bonds might be supplied with a coupon between 4.5 and 5 per cent every year, payable semi-annually in arrears.

The bonds might be supplied by means of an accelerated book-building to institutional traders exterior the USA of America, Australia, Japan and South Africa.

Settlement is anticipated to happen on or round April 16th.

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