
Tui increases special bond by 190 million euros
The travel group Tui is once again increasing 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 securities can be exchanged for shares by the owner at a later date. The Hanover-based company explained that the conditions are the same as for the title brought to market in the spring. The proceeds will flow into ongoing refinancing. After business was largely canceled in the first Corona year of 2020, Tui is dependent on more money coming into its coffers through bookings - at the same time, the group is obtaining additional funds from investors. The actual use of the billion-dollar government loans is to be limited to what is necessary and the repayment of the tranches used from them is to be initiated. This is reported by the FAZ.