airberlin share, XETRA: 1.23 EUR, 24/10/14, 05:35 pm
27 February 2013

Air Berlin PLC Successfully Places Convertible Bonds

The order book for the placement of Air Berlin PLC’s convertible bonds, announced today, has been closed after only 3 hours. Strong demand allowed to increase the issue size of 120 million euros by 20 million euros to 140 million euros.

“We were able to close the order book after only a very short time and place the convertible bonds successfully on the market and even exceeded the issue amount. After our success in ending our past financial year with a net profit, the placement of the bonds demonstrates as much more the confidence of institutional investors to our future development and our intensified turnaround programme,” said airberlin Chief Financial Officer, Ulf Hüttmeyer.

The convertible bonds, which can be converted into Air Berlin PLC ordinary shares, are issued at 100 per cent of nominal value with an annual interest rate of 6 per cent. The conversion price will be EUR 2.82. Air Berlin PLC intends to use the revenue from the sale of these convertible bonds for working capital and general business purposes. Major shareholder and strategic partner Etihad Airways has subscribed to 29.2 per cent of the convertible bonds, corresponding to its stake in Air Berlin PLC. Credit Suisse Securities (Europe) Limited was mandated as sole lead manager and sole bookrunner for the bonds with Commerzbank and quirin Bank as Co-Managers.

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