Finnair redeems the outstanding share of EUR 38.3 million of the hybrid bond issued on 26 November 2012
Finnair Plc Stock Exchange Release 13 October 2016 at 11:15 am EET
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, SOUTH AFRICA, SINGAPORE AND JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Finnair Plc redeems the outstanding share of the EUR 120 million hybrid bond (ISIN: FI4000049952) issued on 26 November 2012. The outstanding share amounts to EUR 38.3 million.
The redemption will be made on 26 November 2016 in accordance with the terms and conditions of the hybrid bond.
In October 2015, Finnair repurchased, by a public tender offer, EUR 81.7 million of the hybrid bond issued on 26 November 2012.
After this transaction, the EUR 200 million hybrid bond issued by Finnair on 13 October 2015 will remain outstanding. The hybrid bond has no maturity date but the issuer is entitled to redeem the hybrid bond 5 years after the issue date.
A hybrid bond is an instrument which is subordinated to the company’s other debt obligations and treated as equity in the IFRS financial statements. The hybrid bond does not confer to its holders the rights of a shareholder and does not dilute the holdings of the shareholders.
Treasury Operations Manager Aku Väliaho, tel. +358 9 818 4372, email@example.com
Finnair communications, tel. +358 9 818 4020, comms(a)finnair.com
Finnair is a network airline specialising in passenger and cargo traffic between Asia and Europe. Helsinki’s geographical location gives Finnair a competitive advantage, since the fastest connections between many European destinations and Asian megacities fly over Finland. Finnair’s vision is to offer its passengers a unique Nordic experience, and its mission is to offer the smoothest, fastest connections in the northern hemisphere via Helsinki and the best network to the world from its home markets. Finnair is the only Nordic carrier with a 4-star Skytrax ranking and a member of the one world alliance. In 2015, Finnair’s revenues amounted to EUR 2,255 million and it had a personnel of 4,800 at the year-end. Finnair Plc’s shares are quoted on Nasdaq Helsinki.