TUI has reached agreement with the German WSF to fully repay the pandemic-related stabilization measures with a €479m nominal value of c.€730m and the price could increase to as much as €957m, subject to market conditions. A rights issue of €1.6-1.8bn (c.50-60% of TUI’s current market cap) is planned for early 2023 to support the WSF repayment, following the implementation of a capital reduction. The recap will also be used to partially redeem the remaining KfW credit lines of €2.1bn.
14 Dec 2022
A recap planned to support the WSF repayment agreement
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A recap planned to support the WSF repayment agreement
TUI has reached agreement with the German WSF to fully repay the pandemic-related stabilization measures with a €479m nominal value of c.€730m and the price could increase to as much as €957m, subject to market conditions. A rights issue of €1.6-1.8bn (c.50-60% of TUI’s current market cap) is planned for early 2023 to support the WSF repayment, following the implementation of a capital reduction. The recap will also be used to partially redeem the remaining KfW credit lines of €2.1bn.