Completion of Bond Conversion and Cancellation

Summary by AI BETAClose X

International Consolidated Airlines Group, S.A. has confirmed the final payment of the Cash Alternative Amount to bondholders, completing the conversion and cancellation of its outstanding 1.125% Senior Unsecured Convertible Bonds due 2028. This action follows the Issuer's exercise of its option to redeem the bonds on 21 July 2026, with bondholders electing to convert their holdings as an alternative. As of 27 August 2026, no bonds remain outstanding.

Disclaimer*

International Cons Airlines Group
27 August 2026
 

 

27 August 2026

COMPLETION OF CONVERSION AND CANCELLATION

OF THE OUTSTANDING 1.125% SENIOR UNSECURED CONVERTIBLE BONDS DUE 2028

OF INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.

 

On 5 June 2026, International Consolidated Airlines Group, S.A. (the "Issuer") gave notice (the "Optional Redemption Notice") to the holders of the outstanding 1.125% Senior Unsecured Convertible Bonds due 2028 (ISIN: XS2343113101) (the "Bonds") (such holders, the "Bondholders"), in accordance with the terms and conditions of the Bonds (the "Conditions"), that the Issuer was exercising its option under Condition 7(b)(ii) to redeem all of the outstanding Bonds on 21 July 2026.

As announced on 16 July 2026, as an alternative to the redemption of the Bonds pursuant to Condition 7(b)(ii), Bondholders exercised Conversion Rights in respect of all the outstanding Bonds, and the Issuer exercised its Cash Alternative Election option to satisfy the exercise of all such Conversion Rights by payment of the appropriate Cash Alternative Amounts in accordance with the Conditions.

The Issuer hereby confirms that the final Cash Alternative Amount has now been paid to the relevant Bondholders. Following such payment, no Bonds remain outstanding as of 27 August 2026.

Words and expressions defined in the Conditions shall have the same meaning when used in this announcement.

Insofar as this announcement is released via the CNMV, it is released further to the inside information communications released on 11 May 2026 (registered with the CNMV under numbers 3,210 and 3,211), the other relevant information communication released on 12 May 2026 (registered with the CNMV under number 40,843), the other relevant information communication released on 21 May 2026 (registered with the CNMV under number 40,989), the other relevant information communication released on 5 June 2026 (registered with the CNMV under number 41,282) and the other relevant information communication released on 16 July 2026 (registered with the CNMV under number 41,924).

Issuer's LEI: 959800TZHQRUSH1ESL13.

For further information please contact:

International Airlines Group (IAG)

Attention: IAG Investor Relations

Email: investor.relations@iairgroup.com

 

 

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International Consolidated Airlines Group SA (CDI) (IAG)
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