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GC Asia
IAG roadshows for new €500m bond to fund CB tender
International Consolidated Airlines Group (IAG) is running a tender offer for its outstanding €500m 0.25% convertible bonds due in November 2020 and is considering replacing the CBs with new euro-denominated senior unsecured bonds.
JP Morgan and BNP Paribas are arranging the reverse bookbuild. IAG, which is the parent of British Airways and Iberia, is rated Baa3, with a stable outlook, by Moody’s.
Investors will receive 100.2 in cash for each bond, plus accrued interest from May 17, the last interest rate ...Please take a trial or subscribe to access this content.
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