Aer Lingus Offer Amends to Financing Arrangements
On 22 June 2015, IAG announced certain updates to the Financing Arrangements following Banco Santander S.A.'s ("Santander") accession to those arrangements.
Bankia, S.A., BNP Paribas Fortis SA/NV, CaixaBank, S.A. and UniCredit Bank AG have now joined the Financing Arrangements by entering into arrangements with the other parties to replace the Lending Institutions and accede as lenders to the bridge facility agreement (the "Bridge Facility Agreement") under which a term loan facility of up to €1.4 billion is to be made available to AERL Holding for the purpose, amongst other things, of funding the consideration payable by it in respect of the Offer and certain transaction costs relating to the Offer and AERL Holding's financing of the Offer (the "Bridge Facility"). Santander has also replaced Bank of America Merrill Lynch International Limited ("BAML") as agent for the benefit of the finance parties under the Bridge Facility. Landesbank Hessen-Th?ringen Girozentrale has replaced BAML as security trustee under the Bridge Facility and other finance documents.
Other than as described above, the summary of the terms of the Financing Arrangements and the Bridge Facility described in the Offer Document, as amended by the IAG announcement on 22 June 2015, remain unchanged.
Deutsche Bank, financial adviser to IAG and AERL Holding, is satisfied that sufficient resources are available to AERL Holding to satisfy in full the consideration payable to Aer Lingus Shareholders under the terms of the Offer.
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