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RNS Number : 1897H
International Cons Airlines Group
09 July 2012
This announcement contains details of an issue which is not for release in the United States of America, Canada, Australia, South Africa and Japan
SECURED BOND LAUNCH
International Airlines Group's wholly owned subsidiary British Airways today (July 9, 2012) announces proposals to issue a sterling secured bond.
The final terms and timing of the issuance will be based on investor feedback and market conditions following an investor roadshow.
Bond holders will have the benefit of security over the shares and assets of a wholly owned subsidiary of British Airways called British Airways (BA) Limited. The assets include up to 31 daily slot pairs at London Heathrow airport.
British Airways (BA) Limited has been established as the licenced operator of scheduled services between London City airport and New York JFK airport. It has entered into a joint operation with British Airways with respect to sales, booking, ticketing and slots at London City and London Heathrow airports.
It is proposed that the bonds will be issued through a special purpose entity incorporated for this purpose.
July 9, 2012 IAG07
Media enquiries to the IAG press office on +44 20 8564 2810
Application is proposed to be made to the Financial Services Authority in its capacity as competent authority under the Financial Services and Markets Act 2000 as amended for the bonds to be admitted to its official list and to the London Stock Exchange plc for the bonds to be admitted to trading on its main market.
The airline has appointed BNP Paribas as sole arranger and bookrunner for the transaction HSBC have been appointed liquidity line provider and co-lead manager.
This announcement does not constitute or form part of an offer to sell or the solicitation of an offer to subscribe for or otherwise acquire any securities. The securities have not been and will not be registered under the U.S. Securities Act of 1933 and are subject to U.S. tax law requirements. Accordingly, these securities may not be offered, sold or delivered in the
This press release is for information only and does not constitute an offer to sell, subscribe, purchase, exchange or transfer any securities or a solicitation of any such offer. This communication is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience in matters relating to investments or (iii) are persons falling within Article 49 (2(a) to (d) ("high net worth companies, unincorporated associations etc") of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.
In addition, if and to the extent that this press release is communicated in, or any investment or investment activity to which it relates is offered in, any EEA member state that has implemented Directive 2003/71/EC (together with any applicable implementing measures, including Directive 2010/73/EC, in any member state, the "Prospectus Directive"), this communication is only addressed to and directed at persons in that member state who are "qualified investors" within the meaning of the Prospectus Directive or in any other circumstances falling within Article 3(2) of the Prospectus Directive (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in that member state. This announcement does not constitute a prospectus within the meaning of the Prospectus Directive or an offer to the public.
Certain information included in these statements is forward-looking and involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements.
Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions and the Company's plans and objectives for future operations, including, without limitation, discussions of the Company's Business Plan, expected future revenues, financing plans and expected expenditures and divestments. All forward-looking statements in this report are based upon information known to the Company on the date of this report. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
It is not reasonably possible to itemise all of the many factors and specific events that could cause the Company's forward-looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy. Further information on the primary risks of the business and the risk management process of the group is given in the Annual Report and Accounts 2011; this document is available on www.iagshares.com.
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