Wizz Air issues new €500m bond at minimal premium to repay Bank of England financing
Wizz Air Holdings (Wizz Air) has issued a new €500m bond for general management purposes, including the repayment of £300m in Covid-19 financing from the Bank of England.
The bond will be offered at little to no premium, pricing its offering in one per cent notes that are due in 2026.
The fast-growing low-cost airline is looking to make the most of robust financing markets and attractive pricing.
The bond offering was executed within the framework of the Euro Medium Term Note Programme, and is expected to close on 19 January 2022.
The joint bookrunners were Barclays, BNP Paribas, Citigroup and J.P. Morgan.
Wizz Air is rated BBB- by Fitch and Baa3 by Moody’s. .
József Váradi, Wizz Air Group’s chief executive said: “We are pleased to announce our second bond offering at even more attractive pricing levels compared to our debut offering last year. The proceeds will further support Wizz Air as it scales-up to become an even stronger low-cost player in the coming years.”
Wizz Air will announce its Q3 results for the three months ending 31 December 2021 on 26 January 2022.