Virgin plans to additionally supply A$ notes quickly
Virgin plans to additionally supply A$ notes quickly
Airways says has obtained FIRB approval for Velocity acquisition
Updates all through with extra element on US greenback notes, deliberate problem of A$-denominated notes, background on Velocity deal
Oct 25 (Reuters) – Virgin Australia Holdings Ltd VAH.AX shelp on Friday it had priced $425 million of unsecured notes and deliberate to supply Australian greenback denominated notes in “the close to time period”, each to fund the buyback of its Velocity frequent flyer programme.
Virgin additionally stated that it had acquired approval from Australia’s International Funding Assessment Board (FIRB) to purchase again the 35% of Velocity that it doesn’t already personal from personal fairness group Affinity Fairness Companions for A$700 million ($477.33 million).
The acquisition, introduced final month, will give Virgin higher management over a division that generates optimistic cashflow because the airline seeks to spice up income after reporting its seventh consecutive…