IN BRIEF: IAG launches EUR825 million bond buyback invitation

International Consolidated Airlines Group SA - London- and Madrid-based owner of British Airways, Iberia and other airlines - Launches invitation to repurchase up to EUR825.0 million outstanding 1.125% senior unsecured convertible bonds due 2028. Says it intends to repurchase up to 100% of the outstanding principal amount through a reverse bookbuilding process. The repurchase period opened at 0700 BST on Monday and is expected to close at 1630 BST. IAG says bonds accepted for purchase will be cancelled. Adds that if outstanding bonds fall to 15% or less of the original amount issued, it currently intends to redeem the remaining bonds in full. Settlement is expected around May 19.

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By Eva Castanedo, Alliance News reporter

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