Airlines Issue More Than $1 Billion in Bonds
- Korean Air priced a Japanese yen-denominated senior unsecured bond guaranteed by the Export-Import Bank of Korea (KEXIM). Proceeds from the three-year notes will be used to repay debt. Moody’s Investor Service rated the bond an investment grade Aa2.
- Singapore Airlines sold its first bonds of 2022, a $600 million seven-year issue that priced with a 3.375 percent coupon, according to Bloomberg. Proceeds are earmarked for aircraft purchases and general purposes.
- And in Europe, Wizz Air raised €500 million ($572 million) in the debt capital markets. The four-year notes priced with a 1 percent coupon. Proceeds will be used for general corporate purposes, and repaying a £300 million ($411 million) facility due in February. Barclays, BNP Paribas, Citigroup, and J.P. Morgan were joint bookrunners of the transaction.