Amadeus taps investors for €1.5bn to stay alive during Covid-19

By Aidan Gregory
03 Apr 2020

Amadeus, the Spanish provider of IT to the travel and tourism industries, has completed a €1.5bn financing involving the simultaneous sale of new stock and convertible bonds to protect its balance sheet after a fall in demand due to Covid-19.

JP Morgan was global coordinator on both legs of the transaction, which also included a delta equity placement to facilitate hedging of the convertible bonds by investors. Crédit Agricole and Citigroup were bookrunners.

Announced after the market close on Thursday evening, following a wall-crossing, the transaction is ...

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