Norwegian Air's shares down 8% after share, bond issue

OSLO, Nov 6 (Reuters) - Norwegian Air's shares fell
by 8% in early trade on Wednesday after the struggling budget
carrier conducted its third share issue in less than two years
late on Tuesday.

The company raised 2.5 billion Norwegian crowns ($272
million) from a combined sale of shares and convertible bonds,
which it said would cover its needs "through 2020 and beyond
based on the current business plan".

The news shares were sold at 40 crowns each, a 13% discount
to Tuesday's closing price of 46.06 crowns. The company's shares
traded at 42.64 crowns at 0802 GMT.

($1 = 9.1965 Norwegian crowns)
(Reporting by Terje Solsvik and Gwladys Fouche, editing by
Louise Heavens)