Wizz Air has tapped alternative finance markets to secure €500 million via its first bond offering.
The three-year bond offering was multiple times oversubscribed, according to the eastern and central European budget carrier.
The bond was sold at an interest rate of just 1.35%.
The airline said: “Taking advantage of a strong underlying financing market and highly attractive pricing, Wizz Air intends to use the proceeds to further strengthen its leading liquidity position.”
Chief executive Jozsef Varadi said:“We are pleased to announce our debut bond offering which demonstrates Wizz Air’s access to alternative financing markets at highly attractive pricing.
“The proceeds will further strengthen Wizz Air’s already excellent liquidity position providing continued flexibility to respond to growth opportunities, as well as providing additional financial resilience.”
Wizz Air carryings fell by 80% year-on-year in December due to Covid travel restrictions.
The airline is due to release results for the three months to December 31 on January 28.