TUI AG: The holders of the Senior Notes due October 2021 have agreed to suspend potential future limitation of TUI's financial indebtedness

DJ TUI AG: The holders of the Senior Notes due October 2021 have agreed to suspend potential future limitation of TUI's financial indebtedness

TUI AG (TUI) 
TUI AG: The holders of the Senior Notes due October 2021 have agreed to 
suspend potential future limitation of TUI's financial indebtedness 
 
09-Sep-2020 / 15:39 CET/CEST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
*The holders of the Senior Notes due October 2021 have agreed to suspend 
potential future limitation of TUI's financial indebtedness* 
 
*Hanover, 9 September 2020*. Pursuant to the terms of the revolving credit 
facility between TUI, KfW and a consortium of banks, the additional 
KfW-tranche granted as part of the EUR 1.2bn support package is subject to a 
waiver or suspension of a potential future limitation of TUI's financial 
indebtedness under the EUR 300,000,000 2.125% Senior Notes due 26 October 
2021 (the *Senior Notes*). With the expiry of the voting period of a vote 
without meeting (Abstimmung ohne Versammlung) pursuant to the German Act on 
Debt Securities (_Schuldverschreibungsgesetz, SchVG_) on 8 September at 
24:00h CEST the holders of the Senior Notes have given their consent to an 
according suspension. 
 
Once effective, this results in an increase of the coupon to 9.5% p.a. of 
the nominal amount of the Senior Notes as of 1 October 2020 and an 
additional payment of 2.0% of the nominal amount of the Senior Notes per 
quarter as of 1 April 2021. In addition, TUI AG commits to an early 
redemption of the Senior Notes (in full or in part) from certain additional 
funds raised by TUI AG provided that such funds raised by TUI AG amount to 
at least EUR 150m. Further, the resolution fee increases from EUR 1,000 per 
EUR 100,000 nominal amount of Senior Notes to EUR 3,000 per EUR 100,000 
nominal amount of Senior Notes. 
 
The amendment of terms and conditions of the Senior Notes is expected to 
become effective in the course of October 2020. With the issuance of a 
convertible bond (alternatively a bond with warrant) by TUI to the Economic 
Stabilization Fund (WSF) in the amount of EUR 150m, all funds resulting from 
the EUR 1.2bn support package as announced by means of an ad-hoc dated 12 
August 2020 would, upon fulfilment of all further customary conditions for 
disbursements, then be readily available to TUI. 
 
*ANALYST & INVESTOR ENQUIRIES* 
 
Mathias Kiep, Group Director     Tel: [phone]/ 
Investor Relations               [phone] 
and Corporate Finance 
 
Nicola Gehrt, Director, Head of  Tel: [phone] 
Group Investor Relations 
*Contacts for Analysts and Investors in UK, Ireland and 
Americas* 
Hazel Chung, Senior Investor     Tel: [phone] 
Relations Manager 
Corvin Martens, Senior Investor  Tel: [phone] 
Relations Manager 
*Contacts for Analysts and Investors in Continental Europe, 
Middle East and Asia* 
Ina Klose, Senior Investor       Tel: [phone] 
Relations Manager 
*Media* 
Kuzey Alexander Esener, Head of  Tel: + 49 (0)511 566 6024 
Media Relations 
 
*DISCLAIMER* 
 
FORWARD-LOOKING STATEMENTS 
This announcement contains a number of statements related to the future 
development of TUI. These statements are based both on assumptions and 
estimates. Although we are convinced that these future-related statements 
are realistic, we cannot guarantee them, for our assumptions involve risks 
and uncertainties which may give rise to situations in which the actual 
results differ substantially from the expected ones. The potential reasons 
for such differences include market fluctuations, the development of world 
market fluctuations, the development of world market commodity prices, the 
development of exchange rates or fundamental changes in the economic 
environment. TUI does not intend or assume any obligation to update any 
forward-looking statement to reflect events or circumstances after the date 
of this announcement. 
 
ISIN:           DE000TUAG000 
Category Code:  MSCU 
TIDM:           TUI 
LEI Code:       529900SL2WSPV293B552 
OAM Categories: 2.2. Inside information 
Sequence No.:   83823 
EQS News ID:    1129479 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

September 09, 2020 09:39 ET (13:39 GMT)