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Company News

Qantas sells $370 mln of bonds to boost liquidity, replace maturing debt

SYDNEY, Sept 1(Reuters) - Qantas Airways Ltd said on Tuesday it had issued A$500 million ($369.90 million) of unsecured bonds with a coupon of 5.25% to help strengthen liquidity and replace maturing debt as it deals with a plunge in demand due to the coronavirus pandemic.

The airline said in a statement that the 10-year issue was oversubscribed. The coupon rate is higher than its last pre-pandemic issuance of a A$425 million, 10-year bond with a coupon of 2.95% in November. ($1 = 1.3517 Australian dollars) (Reporting by Jamie Freed; additional reporting by Wayne Cole; Editing by Kim Coghill)

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