easyJet announces GBP1.2 billion fully underwritten rights issue

    easyJet announced (09-Sep-2021) a fully underwritten rights issue to raise gross proceeds of approximately GBP1.2 billion. In conjunction with the rights issue, the company has also agreed commitments for a new four year senior secured revolving credit facility of USD400 million. Net proceeds from the rights issue is expected to facilitate and accelerate the group’s recovery from the impact of the coronavirus pandemic by providing resilience from downside risks, should the coronavirus pandemic continue to dampen or delay the recovery of passenger volumes over the next 12 months. Net proceeds will also materially improve easyJet‘s ability to deliver long term value to shareholders through providing the group with the flexibility to take advantage of long term strategic and investment opportunities expected to arise as the European aviation market emerges from the coronavirus pandemic. [more – original PR]

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