Finnair is considering the issuance of new euro-denominated capital securities (New Capital Securities). The potential issue is expected to take place in the near future subject to market conditions. The maximum principal amount of the potential issue is €200 million.
At the same time, the company announces that it invites the holders of its outstanding €200 million 7.875 per cent capital securities issued in 2015 to tender the capital securities for cash on the terms and conditions set out in the Tender Offer Memorandum dated August 18, 2020.
Pursuant to the tender offer, the company proposes to accept for purchase any and all of the Capital Securities, although the company reserves the right, in its sole discretion, to accept or reject any capital securities offered for purchase.
Whether the Company will accept for purchase any Capital Securities validly tendered is subject to, without limitation, the pricing of the issue of the New Capital Securities. The purchase price of the Capital Securities is EUR 100,000 per EUR 100,000 in principal amount of the Capital Securities. Accrued and unpaid interest will be paid in respect of all Capital Securities validly tendered and delivered and accepted for purchase.
The offer period closes at 4:00 p.m. Helsinki time (EEST) on August 26, 2020. The Tender Offer results will be announced as soon as possible and in no case later than August 27, 2020. Subject to satisfaction of the New Issue Condition, the settlement date is expected to be September 3, 2020.
