(Sharecast News) – European low-cost airline Wizz Air announced its debut bond offering of 500.0m on Thursday.
Wizz Air sold the bonds in a “multiple times oversubscribed” offering at an interest rate of 1.35% in order to take advantage of a “strong underlying financing market” and “highly attractive pricing”.
The firm intends to use the proceeds to further strengthen its leading liquidity position.
Chief executive JĂ³zsef VĂ¡radi said: “We are pleased to announce our debut bond offering which demonstrates Wizz Air’s access to alternative financing markets at highly attractive pricing.
“The proceeds will further strengthen Wizz Air’s already excellent liquidity position providing continued flexibility to respond to growth opportunities, as well as providing additional financial resilience.”
As of 0915 GMT, Wizz shares were up 1.15% at 4,224.0p.