The travel company Tui topped up a bond issued in April to financially bridge the Corona crisis.
As the company announced on Monday evening, the volume of 400 million euros will be expanded to include new so-called convertible bonds with a nominal value of 190 million euros. Such papers can be exchanged for shares by the owner at a later date. The Hanoverians declared that the conditions were the same as for the title that was launched on the market in spring.
The proceeds are to flow into ongoing refinancing. After the long-term failure of business in the first Corona year 2020, Tui is dependent on more money coming into the till through bookings - at the same time, the group is obtaining additional funds from investors. In this way, the actual use of the billion-dollar government loans is to be limited to what is necessary and the repayment of the tranches used is to be initiated. The FAZ reports.