OREANDA-NEWS.    Ryanair Holdings Plc today (10 June) announced that it has issued an €850m Euro Bond at 1.875%, fixed for 7 years. This is Ryanair’s first ever Euro Bond debt issuance and is part of its plans to access the debt capital markets to source low cost financing for its new 180 Boeing 737-800 NG order, deliveries of which start in September 2014, and will enable Ryanair to grow by 40% over the next 5 years to over 110m customers p.a.  

Ryanair received a BBB+ rating from Standard & Poor’s and Fitch, making Ryanair the highest rated airline in the world. These ratings reflect the strength of Ryanair’s business model which has a long established track record of profitability, cash generation, and a very strong balance sheet with low levels of debt.

The bond will be listed on the Irish Stock Exchange which offers access to investors both in Europe and the rest of the world. The global coordinator for the bond was Citibank and the joint book runners were BNP Paribas, Citibank, and Deutsche Bank.