airBaltic Successfully Prices a 340 Million Euro Bond Issue
Summary
The Latvian national airline airBaltic has successfully priced a EUR 340 million issue of 14.50% 5.25-year (5 years and 3 months) senior secured bonds. 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 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. The airline also appointed STJ Advisors and Superia as its joint independent financial advisors.airBaltic operates more than 130 routes from Riga, Tallinn, Vilnius, Tampere and, seasonally, Gran Canaria offering connections to a wide range of destinations in the airlines route network in Europe, the Middle East, North Africa, and the Caucasus region.