LONDON (Alliance News) - easyJet PLC on Thursday said it will embark on a roadshow with wholesale debt investors, ahead of what could be the budget airline's first ever issue of bonds, through the sale of euro medium term notes.
easyJet said the roadshow will begin on Tuesday next week, with an potential bond programme depending on market conditions.
"Any funds raised from the programme will be used to support the continued delivery of easyJet's successful strategy, its planned annual passenger growth of between 7-8% and, in particular, the airline's already published fleet requirements which support this profitable growth," easyJet said.
The programme is intended to give easyJet access to new and cheaper sources of funding, and comes after it won investment grade ratings from two key ratings agencies.
Standard and Poor's assigned easyJet with a rating of BBB+ with a stable outlook, while Moody's assigned the airline with a Baa1 rating and a stable outlook, the airline said.
Shares in easyJet were down 2.8% at 1,709.36 pence on Thursday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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easyJet (EZJ)