The airline said that this additional bond issue is in line with airBaltic's strategic financial plan, allowing the airline to strengthen its financial position and ensure financial flexibility as it implements its growth plans and moves toward a possible initial public offering (IPO).
"airBaltic regularly evaluates strategies to mitigate macroeconomic and sector-specific challenges, and in the current climate, enhancing access to liquidity sources is a prudent approach. Proceeds from this issuance will reinforce airBaltic’s liquidity position, further enabling it to pursue its strategic initiatives," the company said in a statement.
The bonds are expected to settle on October 24 2024 and will be listed on Euronext Dublin.
Latvian airline airBaltic announced in May this year that it has issued a 5-year and 3-month covered bond of EUR 340 million at an interest rate of 14.50%.
