The deal was assessed by both international and local investor communities, as well as the state of Latvia - as a result, more than 100 global institutional investors from more than 20 countries and 3 different continents participated, said airBaltic.
Of the total amount of bonds, €290 million was bought by private investors, while the state bought bonds for €50 million, Transport Minister Kaspars Briškens (Progressives) said on social network X.
Demand for securities exceeded supply, with the value of final orders exceeding EUR 800 million, airBaltic reported.
Before the bond issue, there were 8-day online presentations during which airBaltic's management met with global institutional investors.
Martin Gauss, President and CEO of airBaltic, said in a statement to the media that with this bond issue, airBaltic has strengthened its position in the Baltic region by accessing international debt capital markets through Eurobond offers. The bond issue will be used to refinance the previously issued 200 million euro bonds.
He also said the airline continues to “move towards an initial public offering (IPO) of potential shares.”
The bond settlement is expected to take place on May 14, 2024, and is scheduled to be listed on the Euronext Dublin Stock Exchange, one of the world's most recognized bond listing sites.
Minister Briškens wrote in the network “X” that this is good news for Latvia, “this is a good achievement for the company and the country - international private investors see potential in the growth of our national airline”.
