Tourexpi
TUI AG starts placement of sustainability-linked senior notes
Today, TUI AG announced the launch of the placement
of sustainability-linked senior notes in a targeted principal amount of 300
million euros with a tenor of five years. The coupon of the notes is linked to
the achievement of a specific sustainability target. TUI group’s Airlines
CO2e-emissions per Revenue Passenger Kilometer are to be reduced by at
least 11 per cent until the end of the financial year ending on 30 September
2026 (compared to financial year ended 30 September 2019).
The issue proceeds will be used to repay existing
liabilities, reduce the KfW credit line and cover expenses associated with the
bond.
The notes will be issued under the TUI AG’s
Sustainability-Linked Finance Framework, which is available on the company’s
website.
The placement of the notes starts today, and the
pricing is expected to be determined in the coming days. There is no assurance
that the issuance of the notes will be completed.
Image
Credit: © TUI Group
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