airberlin disclosed its intention to issue bonds at a volume of €150 million with a subscription period between November 2 and November 5, 2010, together with an option to raise the figure by up to €50 million, according to an announcement of November 1. Although the issue volume was indeed raised to €200 million, the order book was oversubscribed on the first day so the company decided to close the offer.
“We’ve taken an important step towards fulfilling our refinancing programme planned for this year and increasing our financial room for manoeuvre in the future with this successful bond issue,” said airberlin financial director Ulf Hüttmeyer; “Investors have also expressed an interest in repurchasing the convertible bonds we issued in 2009.”

The quirin bank AG acted as the lead manager for the bond issue.