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Result of the repurchase of convertible bonds
International Consolidated Airlines Group, S.A. has announced the successful repurchase of EUR 819,000,000 in aggregate principal amount of its outstanding EUR 825,000,000 1.125% senior unsecured convertible bonds due 2028, representing 99.3% of the total outstanding bonds. Eligible bondholders whose bonds were accepted will receive a cash payment based on the initial repurchase price of EUR 138,950 per EUR 100,000 principal amount, adjusted for share price movements and the bond's reference delta, plus accrued interest. Following this repurchase, approximately EUR 6,000,000 in principal amount of bonds are expected to remain outstanding, and the company intends to exercise its clean-up call option to redeem these remaining bonds. Settlement is anticipated around May 19, 2026. Disclaimer*
About this update from International Consolidated Airlines Group Sa
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014, INCLUDING AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED (THE \"EUWA\").\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE \"UNITED STATES\") OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT (SEE \"INVITATION AND DISTRIBUTION RESTRICTIONS\" BELOW).\n11 May 2026\nInternational Consolidated Airlines Group, S.A. announces repurchase of EUR 819,000,000 in aggregated principal amount of its outstanding EUR 825,000,000 1.125% senior unsecured convertible bonds due 2028\nInternational Consolidated Airlines Group, S.A. (the \"Purchaser\") announces the final results of its invitation to the Eligible Bondholders (as defined below) of its outstanding EUR 825,000,000 1.125% Senior Unsecured Convertible Bonds due 2028 with ISIN code: XS2343113101 (the \"Bonds\") to offer to sell up to the outstanding principal amount of their Bonds to the Purchaser for cash at the Final Repurchase Price (as defined below) by way of a reverse bookbuilding process (the \"Invitation\").\nThe Invitation was announced by the Purchaser earlier today and was fully described in an invitation term sheet (the \"Invitation Term Sheet\") prepared by the Purchaser in connection with the Invitation.\nThe Purchaser announces that EUR 819,000,000 in aggregate principal amount of the Bonds, which represents 99.3% of the aggregate principal amount of the Bonds currently outstanding, were validly tendered in the Invitation. The Purchaser accepts all of the Bonds validly tendered for purchase pursuant to the Invitation.\nEligible Bondholders whose Bonds are accepted for purchase in the Invitation will receive (I) an amount in cash per EUR 100,000 in principal amount of Bonds equal to EUR 138,950 (the \"Initial Repurchase Price\"), as adjusted to reflect...
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