Wizz Air has announced a massive €500 million bond offering to fund its projected European expansion.
The low-cost carrier stated in an update to the London Stock Exchange that the sale is scheduled to finish on January 19th.
The carrier added it was seeking to take “advantage of robust financing markets and very attractive pricing”. A year ago, Wizz Air secured €500 million via its first bond offering, which was sold at an interest rate of 1.35 percent.
József Váradi, Wizz Air Group chief executive, said: “We are pleased to announce our second bond offering at even more attractive pricing levels compared to our debut offering last year”.
“The proceeds will further support Wizz Air as it scales up to become an even stronger low-cost player in the coming years.”