White & Case advises Deutsche Lufthansa on €600 million convertible bonds issuance

Global law firm White & Case LLP has advised Deutsche Lufthansa AG on the issuance of unsecured and unsubordinated convertible bonds with an aggregate principal amount of €600 million.

The bonds will be redeemed on 10 September 2032, at their accrued redemption amount, which has been set at 102.66% of the nominal amount, unless they are converted or repurchased and withdrawn early. Investors also have the option to convert the notes into new or existing registered shares of the company. The initial conversion price has been set at €10.7550, which represents a conversion premium of 42.5% above the reference share price of € 7.5474.

Deutsche Lufthansa AG intends to use the proceeds from the offering to finance the tender offer regarding its outstanding convertible bonds and for general corporate purposes including the refinancing of existing debt.

The Lufthansa team was advised by the legal department through Annabelle Sachs and Sandra Ziener.

White & Case also advised the company on the tender offer regarding its outstanding convertible bonds.

The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener and local partner Peter Becker and included partners Rebecca Emory and Thilo Diehl, local partner Timo Lockemann and associate Darleen Stöckl.

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