International Consolidated Airlines Group. S.A.

Capital/Financing Update • Aug 16, 2013

National Storage Mechanism | Additional information

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RNS Number : 8812L

International Cons Airlines Group

16 August 2013

16 August 2013

Notice of redemption of British Airways Plc £350,000,000 5.80 per cent. convertible bonds due 2014

International Consolidated Airlines Group, S.A. (the "Company") announces that its subsidiary, British Airways Plc, has exercised its option to redeem all of its outstanding £350,000,000 5.80 per cent. convertible bonds due 2014 (the "Bonds") which are guaranteed by the Company on 30 September 2013 in accordance with the terms and conditions of the Bonds.

As an alternative to the redemption of the Bonds, bondholders have the option under the terms and conditions of the Bonds to exchange Bonds for ordinary shares in the Company until the close of business on 23 September 2013.

As at today's date, the conversion price for holders of the Bonds is £1.89 per ordinary share in the Company. The closing price of an ordinary share in the Company was £3.08 on 15 August 2013. If all bondholders exercise their conversion rights in respect of all outstanding Bonds, the maximum number of new ordinary shares in the Company which would be issued in respect of the conversion would be 184,708,994 (representing 9.96% of the current share capital of the Company).

The Company calculates earnings per ordinary share on a fully diluted basis, and as such the conversion of the Bonds will not affect the Company's target earnings per ordinary share.

For further information, please see the corresponding announcement made by British Airways Plc today.

This notification is made in accordance with Disclosure and Transparency Rule 2.2.1R.

IAG Investor Relations

www.iagshares.com 

This information is provided by RNS

The company news service from the London Stock Exchange

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