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easyJet PLC - Luton, England-based budget carrier - Prices €850 million of bonds under its medium-term note programme to be issued on Wednesday next week. The bonds mature in 2031 and have a coupon of 3.75%. ‘Over the last 18 months, easyJet has retired circa £1.6 billion of debt, deleveraging the balance sheet following the recovery in travel post pandemic. Part of the issuance proceeds will be used to repay existing debt as it matures over the next 18 months,’ the company notes. Chief Financial Officer Kenton Jarvis says: ‘We are very pleased with the success of this bond issue. The interest shown by investors at greater than 4x over-subscription and the competitive pricing underscores the market’s confidence in easyJet’s strategy.’ Current stock price: 525.20 pence, down 2.3% on Thursday in London 12-month change: up 4.0% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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