- Gross proceeds of around 568 million euros
- Over 98 per cent of subscription rights exercised
- Capital increase was part of the Group's third financing package and enables early redemption of the senior bon
TUI AG has successfully completed its capital increase in full. The gross proceeds amount to around 568 million euros. The Group's share capital increased nominally by almost 509 million euros to around 1.099 billion euros.
The capital increase was part of the third financing package for TUI announced on 2 December 2020. As announced, the inflow of funds from the capital measure will serve, among other things, the early redemption of the senior bond with a nominal amount of 300 million euros maturing in October 2021. As a result, the maturities of the KfW loans granted from the three financing packages will be extended until July 2022.
During the subscription period from 8 to 26 January 2021, existing shareholders were able to exercise their subscription rights and subscribe to new shares at a ratio of 29:25 for 1.07 euros per share. 98.37 per cent of the subscription rights were exercised. The unsubscribed shares subsequently went fully to qualified investors in a rump placement at the market price. The capital increase was supported by Barclays Bank, Bank of America, Citigroup and Deutsche Bank.
The new shares are to be credited to the securities accounts on 29 January 2021.