Adds up to date situations BERLIN, Nov 10 (Reuters) - In re
Adds up to date situations
BERLIN, Nov 10 (Reuters) – In response to excessive demand from traders, Germany’s Lufthansa LHAG.DEon Tuesday elevated the amount of a bond providing and adjusted the situations in its personal favour.
Germany’s flagship provider lifted an providing of 2025 senior unsecured convertible bonds, which it had introduced earlier on Tuesday, to as much as 600 million euros ($707 million) from 525 million.
The airline, which is reeling from the affect of the coronavirus pandemic on journey, mentioned it deliberate to make use of the proceeds for normal company functions.
It lowered the coupon to between 2.00% and a pair of.25% each year from 2.25% and a pair of.75%, nonetheless payable semi-annually in arrears.
The bonds might be convertible into new and or present shares and might be provided by means of an accelerated bookbuilding course of to institutional traders.
The preliminary conversion value was additionally adjusted to as much as 40% above the reference share value from between 30% and 35% earlier.
($1 = 0.8482 euros)
(Reporting by Caroline Copley; Modifying by Michelle Adair and Maria Sheahan)
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