airBaltic Successfully Prices a 340 Million Euro Bond Issue , allocation to more than 100 leading investors from more than 20 countries.
Summary
This will be the largest corporate bond issue originating from Latvia.This transaction was well received by both the international and local investment communities, as well as the Latvian State, resulting in a final allocation to more than 100 leading global institutional investors from more than 20 countries across 3 continents. The demand for the bond exceeded the supply with the final orderbook surpassing EUR 800 million.The pricing follows an eight-day investor roadshow, during which the airBaltic management team met a large number of leading global institutional investors.The Latvian state owns 97.97% of airBaltic shares, while 2.03% of shares are owned by financial investor, Danish entrepreneur Lars Thuesen, who also owns Aircraft Leasing 1.Because of better operational results, airBaltic board believes in that private and/or public financing sources will remain available to the airline in the first half of 2024. None The airline plans to not only refinance EUR 200 million, but also attract an additional EUR 100 million in order to improve the balance of funds and facilitate the financing of future capital investments related to the increase of the companys capacity.With successfully priced bond issue, airBaltic has strengthened its position in the Baltic region by accessing international debt capital markets through its eurobond offerings. The successful placement of this bond serves to refinance our previously issued 200 million eurobond, demonstrating the trust investors have in airBaltics strategy. This refinancing will substantially boost the companys liquidity and financial stability allowing us to continue our investments in expanding and modernizing our fleet.