Finnair to redeem 2009 domestic bond in October

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Helsinki-based Finnair will redeem the outstanding share of its €120 million ($160 million) domestic hybrid bond issued in September 2009 next month.

The Finnish carrier repurchased €67.7 million of the bond in November 2012 in connection of the issuance of a new €120 million hybrid bond at a 8.875% coupon rate.

The outstanding share amounts to €52.3 million. The redemption will be made on 7 October 2013, says Finnair.

In July, Finnair signed a €180 million syndicated revolving credit facility maturing in July 2016. The facility is a reserve facility and is currently unused.

Last month it issued a €150 million ($200 million) fixed rate senior unsecured bond with a five-year term in a transaction managed by Danske Bank and Pohjola Bank. The loan pays a coupon of 5% annual coupon rate.