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International Consolidated Airlines offers to buy back €500 million 0.25% convertibles due 2020
By Rebecca Melvin
New York, June 24 – International Consolidated Airlines Group SA is offering to repurchase €500 million of 0.25% convertible bonds due Nov. 17, 2020 by way of reverse book building and subject to the potential issuance of a new euro-denominated senior unsecured bond, according to a company news release.
Fixed-income investor meetings have been set regarding the potential new issue.
Per €100,000 of bonds, eligible holders will receive €100,200 in cash, plus accrued interest from and including May 17 to but excluding the date of the repurchase of notes.
BNP Paribas and J.P. Morgan Securities plc are acting as dealer managers in respect of the buyback invitation of Regulation S bonds.
London-based International Consolidated Airlines is the holding company of British Airways, Iberia and Vueling.
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