Air Berlin plans to tender for unit's €136 million 1.5% convertibles

By Susanna Moon

Chicago, Oct. 25 - Air Berlin plc said it plans to tender for the €136 million of outstanding 1.5% convertible bonds due 2027 issued by Air Berlin Finance BV.

The purchase price will be €99,000 for each €100,000 of notes plus outstanding interest.

Funding for the offer will come from the issue of up to €100 million of 11½% bonds due Nov. 1, 2014 denominated into units. The issue may be increased by up to €50 million, according to a company news release.

The subscription period will run from Oct. 26 through Oct. 28.

Settlement is expected to occur on Nov. 1.

Morgan Stanley Bank AG is the dealer manager and tender agent.

The Berlin-based air carrier originally issued €220 million of the convertibles.

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