WOW air hf. publishes weakened financial projections and information on decrease of sales and liquidity concerns
On 24 September 2018, WOW air hf. (the "Company") issued senior secured floating rate bonds on the Nordic bond market in an amount of EUR 60 million within a total framework of EUR 100 million. The bonds carry a floating rate interest of EURIBOR plus 9.00 per cent per annum and mature on 24 September 2021 (the "Bond Issue"). Since the date of the Bond Issue, a number of external and internal events have worsened significantly and the Company is now working on securing its long term funding. During and following the Bond Issue, the Company had significant bad publicity about the