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    DGAP-Adhoc  5557  0 Kommentare Air Berlin PLC: Etihad contributes EUR 300 million to the company accounted for as equity cap-ital by subscribing to subordinated convertible bonds with no maturity date in an aggregate principal amount of EUR 300 million - Air Berlin PLC plans to issue n


    Air Berlin PLC / Key word(s): Bond

    27.04.2014 22:07

    Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
    by DGAP - a company of EQS Group AG.
    The issuer is solely responsible for the content of this announcement.

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    London, 27 April 2014 - Air Berlin PLC announces that Etihad Airways
    P.J.S.C. has undertaken to subscribe for subordinated convertible bonds to
    be issued by Air Berlin Finance B.V., and guaranteed by Air Berlin PLC, in
    an aggregate principal amount of EUR 300 million with a coupon of 8.00 per
    cent. p.a. (the "Convertible Bonds"). The Convertible Bonds (with any
    accumulated interest) will be convertible into ordinary registered shares
    of Air Berlin PLC at a conversion rate of EUR 1.79, subject to certain
    conditions. Any shares issued on conversion of the Convertible Bonds will
    be issued on a non-pre-emptive basis.

    The Convertible Bonds have no maturity date (perpetual bonds). Air Berlin
    Finance B.V. may elect, but is not required, to pay interest under the
    Convertible Bonds. Should it elect not to pay interest, the interest will
    be accumulated and added to the original debt. The Convertible Bonds will
    be treated as equity capital of the Air Berlin Group under the
    International Financial Reporting Standards (IFRS). The Convertible Bonds
    are to be issued in three tranches of EUR 100 million each. The issue of
    the first tranche of the Convertible Bonds is expected to occur on or
    before 20 May 2014, the issue of the further tranches on 28 August 2014 and
    27 November 2014. Air Berlin PLC intends to use the proceeds from the issue
    of the Convertible Bonds for working capital, refinancing and general
    corporate purposes. Further, the term of the shareholder loan granted by
    Etihad in the amount of USD 255 million of which USD 135 million are
    currently drawn has been extended from 31 December 2016 to 31 December
    2021.

    Additionally, Air Berlin PLC plans to issue corporate bonds to (i) make an
    exchange offer to the holders of its outstanding bonds due 1 November 2014
    with an aggregate principal amount of EUR 150 million and its outstanding
    bonds due 10 November 2015 with an aggregate principal amount of EUR 200
    million and (ii) raise an additional amount of EUR 150 million or the
    equivalent in CHF. The exchange offer will allow existing bondholders to
    offer to exchange their notes for new notes due 2019 to be issued by Air
    Berlin PLC. At the election of the holders, the notes can be exchanged in
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    DGAP-Adhoc Air Berlin PLC: Etihad contributes EUR 300 million to the company accounted for as equity cap-ital by subscribing to subordinated convertible bonds with no maturity date in an aggregate principal amount of EUR 300 million - Air Berlin PLC plans to issue n Air Berlin PLC / Key word(s): Bond 27.04.2014 22:07 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. …