RNS Number : 9298S
International Cons Airlines Group
19 March 2021
The IAG Bonds final terms - International Consolidated Airlines
Group announcement released on March 18th 2021 at 6.29 p.m under
RNS No 7874S has been amended.
Amendments are identified with an asterisk (*).
(*)The aggregate amount of the Offering is 1,200,000,000.00
euros, and given that the authorization of the Issuer's board of
directors allows for the issue of the necessary increased amount,
the aggregate offer size was fixed at EUR 1,200,000,000.00
BONDS FINAL TERMS
IAG announces that, following the launch of the issue of two
series of senior unsecured bonds (the "Offering") earlier today and
as a continuation to the insider information official communication
with record number 805, IAG has now set the final terms of the
The demand has been higher than expected. The aggregate amount
of the Offering is EUR 1,200,000,000.00 , and given that the
authorization of the Issuer's board of directors allows for the
issue of the necessary increased amount, the aggregate offer size
was fixed at EUR 1,200,000,000.00 split as follows:
-- The first tranche due 25 March 2025 will have a principal
amount of EUR 500,000,000.00 (the " Series A Bonds ").
-- The second tranche due 25 March 2029 will have a principal
amount of EUR 700,000,000.00 (the " Series B Bonds ", and together
with the Series A Bonds, the "Bonds").
The Bonds will bear a fixed rate of interest of: (i) 2.75 per
cent for the Series A Bonds and (ii) 3.75 per cent. per for the
Series B Bonds, in both cases payable annually in arrears.
As a result of the bookbuilding process, the Series A Bonds and
the Series B Bond will be both issued at 100 per cent of their
principal amount, respectively, and, unless previously redeemed or
purchased and cancelled, will be redeemed at 100 per cent of their
principal amount on their respective maturity dates.
Settlement is expected to take place on or about 25 March
Goldman Sachs Bank Europe S.E., Morgan Stanley Europe S.E.,
Banco Bilbao Vizcaya Argentaria, S.A. and Banco Santander, S.A. act
as Joint Global Co-ordinators and as Joint Lead Bookrunners. BofA
Securities Europe SA and Crédit Agricole Corporate and Investment
Bank act as Passive Bookrunners. MUFG Securities (Europe) N.V.,
NatWest Markets N.V. and Standard Chartered Bank act as Co-
Chief Financial Officer
19 March 2021
This announcement contains inside information and is disclosed
in accordance with the Company's obligations under the Market Abuse
Regulation (EU) No 596/2014.
This announcement is directed exclusively at market
professionals and institutional investors, is for information
purposes only and is not to be relied upon in substitution for the
exercise of independent judgement. It is not intended as investment
advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy, any
security nor is it a recommendation to buy or sell any security.
Any decision to purchase any of the securities should only be made
on the basis of an independent review by you of the Issuer's
publicly available information and based upon the final terms and
conditions in respect of the Bonds. None of the Joint Lead
Bookrunners, the Passive Bookrunners, the Joint Global Coordinators
or the Co-Managers (together, the "Managers") nor any of their
respective affiliates accepts any liability arising from the use
of, or makes any representation as to the accuracy or completeness
of, this announcement, the final terms and conditions or the
Issuer's publicly available information.
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States. The
distribution of this announcement may be restricted by law in
certain jurisdictions and persons into whose possession any
document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any
failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction.
This announcement and any offer when made are only addressed to
and directed, in member states of the European Economic Area, at
persons who are "qualified investors" within the meaning of Article
2(e) Regulation (EU) 2017/1129 of the European Parliament and of
the Council of 14 June 2017, as amended (the "Prospectus
Regulation") ("qualified investors"). Each person who initially
acquires any securities or to whom any offer of securities may be
made will be deemed to have represented, acknowledged and agreed
that it is a "qualified investor" within the meaning of Article
2(e) of the Prospectus Regulation.
In the United Kingdom, this document is being distributed only
to, and is directed only at, persons who are qualified investors
within the meaning of Article 2(e) of the Prospectus Regulation, as
amended, as it forms part of UK law by virtue of the European Union
(Withdrawal) Act 2018 who are (i) persons having professional
experience in matters relating to investments falling within the
definition of "investment professionals" in Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005, as amended (the "Order"), or (iii) high net worth entities
falling within Article 49(2)(a) to (d) of the Order, or (ii) are
other persons to whom it may otherwise lawfully be communicated
(all such persons together being referred to as "relevant
persons").This announcement must not be acted on or relied on (i)
in the United Kingdom, by persons who are not relevant persons, and
(ii) in any Member State of the European Economic Area, by persons
who are not qualified investors. Any investment or investment
activity to which this communication relates is available only to
qualified investors in the EEA and relevant persons in the United
Kingdom and will be engaged in only with relevant persons.
This announcement or electronic transmission hereof does not
constitute or form part of an offer to sell securities or the
solicitation of any offer to subscribe for or otherwise buy any
securities to any person in the United States or in any
jurisdiction to whom or in which such offer or solicitation is
Each of the Managers is acting on behalf of the Issuer and no
one else in connection with the offering of the Bonds and will not
be responsible to any other person for providing the protections
afforded to clients of such Managers or for providing advice in
relation to the Bonds or any transaction, matter or arrangement
referred to in this announcement.
In connection with the offering of the Bonds, the Managers and
any of their affiliates, acting as investors for their own accounts
or for the accounts of others, may subscribe for or purchase bonds
and in that capacity may retain, purchase, sell, offer to sell or
otherwise deal for their own accounts or for the accounts of others
in such bonds and any other securities of the Issuer or related
investments in connection with the Bonds, the Issuer or otherwise.
Accordingly, references to the Bonds being issued, offered,
subscribed, acquired, placed or otherwise dealt in should be read
as including any issue or offer to, or subscription, acquisition,
placing or dealing by, the Managers and any of their respective
affiliates acting as investors for their own accounts. The Managers
do not intend to disclose the extent of any such investment or
transactions otherwise than in accordance with any legal or
regulatory obligations to do so.
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(END) Dow Jones Newswires
March 19, 2021 13:10 ET (17:10 GMT)