Lufthansa to raise $1.2b from junk bond markets
Lufthansa is set to raise E1b through its first conventional bond issue since the onset of the coronavirus crisis, a lead manager said. The German airline operator’s five-year bond was set to be priced on Tuesday at a yield of 3.125% after demand totalling more than E4.25b, the lead manager told Reuters. After the pandemic first swept through Europe, Lufthansa needed a E9b German government bailout. Its return to the conventional bond markets adds to the E600m that Lufthansa raised through a convertible bond issue this month. The two deals cement Lufthansa’s access to markets and ability to raise working capital after the crisis, which has crippled airlines and the global travel sector.<br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2020-11-25/star/lufthansa-to-raise-1-2b-from-junk-bond-markets
https://portal.staralliance.com/imagelibrary/logo.png
Lufthansa to raise $1.2b from junk bond markets
Lufthansa is set to raise E1b through its first conventional bond issue since the onset of the coronavirus crisis, a lead manager said. The German airline operator’s five-year bond was set to be priced on Tuesday at a yield of 3.125% after demand totalling more than E4.25b, the lead manager told Reuters. After the pandemic first swept through Europe, Lufthansa needed a E9b German government bailout. Its return to the conventional bond markets adds to the E600m that Lufthansa raised through a convertible bond issue this month. The two deals cement Lufthansa’s access to markets and ability to raise working capital after the crisis, which has crippled airlines and the global travel sector.<br/>
