FRANKFURT - Deutsche Lufthansa (ETR:LHAG) Aktiengesellschaft has successfully completed the issuance of EUR 500 million in subordinated notes, with no subsequent stabilisation actions taken by J.P. Morgan SE, the company announced today. The securities in question are 30NC6 subordinated obligations, ranking pari passu, which means on equal footing, with each other and senior to all junior obligations, including the existing notes due 2075. However, they will rank junior to all senior obligations of the issuer.
The offer price for these notes was set at 100%, with a 5.25% yield. The notes are slated to be admitted to the Official List of the Luxembourg Stock Exchange and to trading on its regulated market.
J.P. Morgan SE served as the stabilization coordinator for the offering, with additional stabilization managers including Citi, HSBC, Crédit Agricole CIB, Morgan Stanley (NYSE:MS), Société Générale (EPA:SOGN), and Unicredit (BIT:CRDI). However, the announcement made clear that no stabilisation was undertaken by J.P. Morgan or any other stabilization managers following the bond issuance.
The completion of this offering represents a significant financial move for Lufthansa. The absence of stabilisation activities suggests that the market has responded favorably to the issuance, or that the underwriting syndicate did not perceive a need to undertake such measures to support the price of the notes.
This announcement is based on a press release statement and is intended for informational purposes only. It does not constitute an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities of the issuer in any jurisdiction. The information was provided by RNS, the news service of the London Stock Exchange (LON:LSEG), and is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom (TADAWUL:4280).
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