Finnair Plc redeems the outstanding share of the EUR 200 million hybrid bond (ISIN: FI4000176300) issued on 13 October 2015 (the “2015 Hybrid Bond”). The outstanding share of the 2015 Hybrid Bond amounts to EUR 42.2 million.
The redemption will be made on 26 October 2020 in accordance with the terms and conditions of the hybrid bond with respect to a replacing capital event by reference to the rights offering completed in July 2020.
In August 2020, Finnair repurchased, by a public tender offer, EUR 157.8 million of the 2015 Hybrid Bond.
After this transaction, the EUR 200 million hybrid bond (ISIN: FI4000441860) issued by Finnair on 3 September 2020 (the “2020 Hybrid Bond”) will remain outstanding. The 2020 Hybrid Bond has no maturity date, but the issuer is entitled to redeem the hybrid bond 3 years after the issue date.
A hybrid bond is an instrument which is subordinated to the company’s other debt obligations and treated as equity in the IFRS financial statements. The hybrid bond does not confer to its holders the rights of a shareholder and does not dilute the holdings of the shareholders.