RYANAIR ANNOUNCES €850M EURO BOND ISSUE AT 1.125% FIXED FOR 8 YEARS
Ryanair today (3 March) announced that it has issued an 8 year, €850m Euro Bond at a fixed coupon of 1.125%. This follows Ryanair's very successful debut issuance in June 2014 and secures further low cost financing for our 380 new Boeing 737 aircraft orders, deliveries of which started in September 2014.
Ryanair is the world's most highly rated airline, with a BBB+ rating from both Standard & Poor's and Fitch Ratings. These ratings reflect the strength of Ryanair's business model which has a long established track record of profitability, cash generation, and a very strong balance sheet with low levels of debt.
The bond will be listed on the Irish Stock Exchange which offers access to investors both in Europe and the rest of the world. The joint book runners were BNP Paribas, Citigroup, and Credit Agricole.
Ryanair's Chief Financial Officer, Neil Sorahan, said:
"We are pleased to have accessed the low cost Euro Bond markets again. Our €850m, 8 year, transaction was very keenly priced at a fixed coupon of 1.125%. The bond was more than 3 times oversubscribed, reflecting the strong demand from bond investors for Ryanair.
This low cost finance, coupled with our attractively priced Boeing orders for 380 new Boeing 737 aircraft, will enable us to further reduce our aircraft ownership costs while continuing to offer the lowest fares and improving travel experience under our "always getting better" programme to our customers as we grow traffic from 90m customers p.a. this year to 160m p.a. by 2024."
ENDS
For further information
please contact:
Robin Kiely Piaras Kelly
Ryanair Ltd Edelman Ireland
Tel: +353-1-9451212 Tel: +353-1-6789 333
press@ryanair.com ryanair@edelman.com
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