Lufthansa launches offering for 525 million euros in convertible bonds

Germany’s Lufthansa LHAG.DE on Tuesday launched an offering for around 525 million euros ($620.97 million) of senior unsecured convertible bonds due in 2025.

The airline, which is reeling from the impact of the coronavirus pandemic on travel, said it would use the proceeds for general corporate purposes.

Lufthansa said the bonds will be convertible into new and or existing shares and will be offered through an accelerated bookbuilding process to institutional investors.

It said the bonds will be offered with a coupon between 2.25% and 2.75% per annum, payable semi-annually in arrears.

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Equities, Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe