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airBaltic Places €340 Million in Eurobonds

Latvian national airline airBaltic has successfully placed €340 million in Eurobonds, as announced by the Minister of Transport of Latvia, Kaspars Brisken, on social media platforms.

According to airBaltic’s statement, the bonds have a maturity of 5.25 years and offer a yield of 14.5% per annum.

Minister Brisken reported that demand for the Eurobonds exceeded supply by more than twice, reaching €840 million. Private investors acquired bonds worth €290 million, while the Latvian government invested €50 million.

The Minister emphasized that the bond issuance will facilitate airBaltic’s development, enabling the expansion of its route network from Riga, fleet expansion, and entry into new markets. Brisken also highlighted future plans to attract a strategic investor and list the company’s shares on the Riga Stock Exchange.

Martin Gauss, President and CEO of airBaltic, expressed gratitude for the successful Eurobond issuance, which provides the airline access to international capital markets.

“The proceeds from the bond issuance will be used to refinance previously issued bonds totaling €200 million. This refinancing will significantly enhance our liquidity, allowing us to further improve the financial stability of the company and invest in fleet expansion and modernization,” Gauss stated.

The Eurobonds will be traded on the Euronext Dublin exchange, providing investors with an opportunity to participate in airBaltic’s growth and contribute to its strategic objectives.

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