Finnair's final purchase price for the tender offer of its outstanding €400 million notes has been set to 90% of the nominal amount of each note, up from 85.5%. The amount of the notes validly tendered by noteholders with a price equal to, or lower than, the final purchase price, was €17,546,000. The company said that it will accept for purchase, at the final purchase price, all such tenders of notes. Finnair will also pay accrued and unpaid interest on the notes accepted for purchase being 1.16875% of the nominal amount of each note.
Finnair claimed that investors' tender instructions "sent a clear signal that Finnair's credit and senior bonds are well-liked, with the majority of investors not wanting to sell their Finnair 2025 notes at market levels indicated at the start of the offer period".
All the notes purchased by the company will be cancelled, it said, adding that those notes not purchased pursuant to the tender offer will remain outstanding.
Goldman Sachs was listed as the dealer manager with Nordea handling liability.