for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Industrials

Virgin Australia increases issue size of domestic notes offering

Nov 1 (Reuters) - Virgin Australia Holdings Ltd said on Friday it had completed the bookbuild for its domestic notes offer, and had raised the issue size to A$325 million ($223.99 million) from A$150 million, citing strong support from investors.

The offer, along with a $425 million offering last week, are to fund the airline’s buy back of 35% of its Velocity frequent flyer program from private-equity group Affinity Equity Partners, for A$700 million.

The Australian dollar offer is scheduled to open on Nov. 5, Virgin said in a statement. It set the interest rate for the notes at 8% per annum. ($1 = 1.4510 Australian dollars) (Reporting by Ambar Warrick in Bengaluru Editing by Chris Reese)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up