Greece’s largest carrier Aegean Airlines will proceed with a sale of bonds on March 5-7 to raise up to 200 million euros ($226.86 million) for down payments on new Airbus aircraft and the construction of a new pilot training centre, Reuters reports.
The seven-year bonds, each with a nominal value of 1,000 euros, will pay a semi-annual coupon. In Greece interest payments are taxed at 15 percent. Trading of the bonds on the Athens stock exchange will commence on March 13 while pricing will be determined via book building.
Aegean, a member of the Star Alliance airline group, will use 75 percent of the proceeds to partly finance down payments on new aircraft based on a contract with Airbus to renew its fleet of single-aisle planes and add capacity for future expansion.
Read more at ekathimerini.com
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