Feb 24, 2021

EasyJet raises €1.2bn bond after UK reveals plans to lift lockdown

EasyJet attracted strong demand in a bond offering on Wednesday, showing how the budget airline is benefiting from enthusiasm surrounding the UK's plans to reopen the economy. Nearly €6bn worth of orders flooded in, allowing easyJet to increase the size of the deal. Investors in the bonds also lack claims on specific easyJet assets in the case of default. "The real risk if there is any hiccup at all in anybody's golden plans for holidays over the summer, then you could find easyJet losing a notch and going into high yield," said Luke Hickmore, investment director at Aberdeen Standard Investments. EasyJet said bookings for flights from the UK surged more than 300 per cent week on week, while its holiday arm recorded a more than 600 per cent jump in bookings.

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