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Tui is seeking to raise at least another €350 million to guard against the ongoing effects of the Covid crisis on its operations with a new bond offering.
The bonds will be convertible into new and/or existing ordinary registered shares in the firm said Tui in a note to the stock exchange on Friday (9 April).
It also has the option to increase the value of the issue to €400 million.
"Tui intends to use the proceeds from the offering to further improve its liquidity position as the Covid-19 crisis continues and subsequently for the repayment of existing financing instruments," Tui added.
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