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12-Aug-2020 1:14 PM

TUI AG reaches agreement with German Federal Government on additional stabilisation package of €1.2

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TUI and KfW have agreed to increase the existing KfW tranche by €1.05 billion. The drawing of this amount is subject to (i) the issuance of a Convertible Bond to the Economic Stabilization Fund (WSF) in the amount of €150m and (ii) a waiver by the bondholders of the Senior Notes due in October 2021. Both conditions and other formal requirements need to be fulfilled by 30 September 2020.

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This press release was sourced from TUI Group on 11-Aug-2020.