Finnair issues EUR 120 million hybrid bond

The hybrid bond will be used to finance the investment programme and to strengthen the Group's capital structure. The arrangement provides us with a solid ground to work further in order to improve our profitability, says Finnair's Group Treasurer Mika Stirkkinen.

Hybrid bond is a bond which is subordinated to the company's other debt obligations and treated as equity in the IFRS financial statements. Hybrid bonds do not confer to holders the right to vote at shareholder meetings and do not dilute the holdings of the current shareholders.

The lead manager of the bond issue was Nordea Markets.

(c) Centre for Asia Pacific Aviation. Date posted: 21-Sep-09

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