6-Nov-2019 10:32 AM

Norwegian Air Shuttle secures private placement of EUR245.8m, fully funded for 2020

Norwegian Air Shuttle ASA raised (05-Nov-2019) approximately NOK2.5 billion (EUR245.8 million) in gross proceeds through a private placement of 27.25 million new shares, at a price per share of NOK40 (EUR3.9) and a convertible bond issue of USD150 million (EUR14.7 million). 5.1 million existing shares were allocated in the private placement at the same price. After the completion of the transactions, Norwegian is fully funded through 2020 and beyond based on the current business plan. Proceeds from the private placement and the convertible bond issue will secure required financing of working capital during the winter season and create headroom while completing the strategic transformation of the company. [more - original PR]

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