LONDON (Alliance News) - International Consolidated Airlines Group SA on Tuesday said it has secured a bridge facility from Banco Santander SA to back its EUR1.4 billion takeover offer for Irish flag carrier Aer Lingus Group PLC.
The FTSE 100-listed owner of British Airways and Iberia said Banco Santander has agreed to provide the EUR1.4 billion bridge facility to back the bid for Aer Lingus by IAG's AERL Holding Ltd subsidiary.
IAG said Deutsche Bank, its adviser on the Aer Lingus deal, is satisfied that sufficient financing resources are available to AERL to satisfy the full consideration payable to Aer Lingus.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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International Airlines (IAG)