Commentary & Deal Flow

Air Baltic Corporation AS (AIRBAL), the leading airline in the Baltic region with 97.97% state ownership by the Republic of Latvia, has mandated BNP/Citi/JPM as Joint Global Coordinators and Bookrunners and MS and SEB as Bookrunners to arrange a series of fixed-income investor meetings commencing today, 29 April 2024. A voice-over investor presentation will be made available. USD or EUR 300mn (exp.) Senior Secured 5.25NC2 notes in 144A/RegS format may follow, subject to market conditions. The new notes are expected to refinance existing indebtedness including the EUR 200mn SUN 2024s as well as for General Corporate Purposes. The notes are expected to be rated B+ by S&P and B by Fitch.