Wizz Air Issues €500 Million 1.00% Bond Due 2026
Wizz Air Holdings Plc has issued a €500 million bond offering of 1.00 percent notes due 2026. The multiple oversubscribes offering was issued within the framework of the Euro Medium Term Note Programme and is expected to close on January 19, 2022.
On Thursday (January 13, 2022), Wizz Air Holdings Plc (Wizz Air) announced the issuance of a €500 million 1.00% bond due in 2026. The joint bookrunners were Barclays, BNP Paribas, Citigroup and J.P Morgan. The multiple oversubscribed offering is expected to close on January 19, 2022, and was executed in accordance within the framework of the Euro Medium Term Note Programme. Wizz Air intends to use the proceeds for general corporate purposes, including the repayment of the £300 million CCFF facility in February 2022. The carrier holds a BBB- rating with Fitch and a Baa3 rating with Moody’s, and will report their third quarter results for the period ending December 31, 2021 on January 26, 2022.
In Thursday’s announcement, Wizz Air Group’s Chief Executive Officer, József Váradi, 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.”
Budapest, Hungary-based Wizz Air serves over 150 destinations across 44 countries and operates an all Airbus A320 Family fleet of 149 aircraft, with an average age of 5.4 years. Wizz Air is the largest low-cost carrier (LCC) in Central and Eastern Europe offering over 700 routes from 45 bases. During FY 21 (ending March 31, 2021) the airline served approximately 10.2 million guests. Wizz Air offers superior guest service at exceptionally low fares. The company is an investment-grade credit rated airline which trades on the London Stock Exchange under the ticker symbol WIZZ.
Source: Wizz Air (RNS Number 2819Y)