REG - Ryanair Holdings PLC - RYANAIR ANNOUNCES THE ISSUE OF EUR850M EURO BOND <Origin Href="QuoteRef">RYA.I</Origin>

Ryanair HoldingsAnnouncement

06/09/2014 02:10

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RNS Number : 2996J
Ryanair Holdings PLC
10 June 2014 
 
RYANAIR ANNOUNCES THE ISSUE OF E850M EURO BOND AT 1.875% FIXED FOR 7 YEARS 
 
Ryanair Holdings Plc today (10 June) announced that it has issued an E850m
Euro Bond at 1.875%, fixed for 7 years. This is Ryanair's first ever Euro Bond
debt issuance and is part of its plans to access the debt capital markets to
source low cost financing for its new 180 Boeing 737-800 NG order, deliveries
of which start in September 2014, and will enable Ryanair to grow by 40% over
the next 5 years to over 110m customers p.a. 
 
Ryanair received a BBB+ rating from Standard & Poor's and Fitch, making
Ryanair the highest rated airline in the world. These ratings reflect the
strength of Ryanair's business model which has a long established track record
of profitability, cash generation, and a very strong balance sheet with low
levels of debt. 
 
The bond will be listed on the Irish Stock Exchange which offers access to
investors both in Europe and the rest of the world. The global coordinator for
the bond was Citibank and the joint book runners were BNP Paribas, Citibank,
and Deutsche Bank. 
 
Commenting on the bond issuance, Ryanair's Chief Financial Officer & Deputy
CEO, Howard Millar said: 
 
"We are very pleased with the issue of our first ever Euro Bond for E850m at
1.875% fixed for 7 years.  The bond was more than 8 times over-subscribed
which reflects very strong demand from investors right across Europe. 
 
Investors were attracted both by Ryanair's BBB+ ratings from S&P and from
Fitch, making us the highest rated airline in the world, and by the strength
of Ryanair's business model, which is strongly cash generative, with a long
track record of profitability, and a superior balance sheet with low levels of
leverage. 
 
This low cost financing, along with our attractively priced Boeing order for
180 aircraft, will enable us to reduce our aircraft ownership costs, and pass
these savings on to our customers by continuing to offer the lowest fares in
Europe, while growing from 82m customers to over 110m p.a. over the next 5
years." 
 
ENDS 
 
For further information 
 
please contact:           Robin Kiely                            Joe Carmody 
 
Ryanair Ltd                            Edelman Ireland 
 
Tel: +353-1-9451212              Tel: +353-1-6789 333 
 
press@ryanair.com                ryanair@edelman.com 
 
Follow us on Twitter: @Ryanair 
 
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The company news service from the London Stock Exchange