Deutsche Lufthansa AG: Deutsche Lufthansa AG to suspend coupon payments on 2015 hybrid bond
May 19, 2021 at 10:52 pm IST
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DGAP-Ad-hoc: Deutsche Lufthansa AG / Key word(s): Bond/Payout
Deutsche Lufthansa AG: Deutsche Lufthansa AG to suspend coupon payments on 2015 hybrid bond
19-May-2021 / 19:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The Executive Board of Lufthansa Group decided today to suspend future coupon payments for the hybrid bond issued in 2015 (maturing in 2075) for the duration of the government stabilization measures, which means until the repayment of the drawn silent participations and the sale of the shareholding in Deutsche Lufthansa AG by the Economic Stabilisation Fund (ESF) in Germany. The decision is based on the view of the EU Commission that such coupon payments constituted a violation of the state aid regulations of the Temporary Framework for state aid to support the economy in view of the outbreak of COVID-19 (EU Temporary Framework) and the conditions of the state aid approval of the stabilization measures in favor of Lufthansa.
In accordance with the terms and conditions of the 2015 hybrid bond, the suspension of the coupon payments does not result in the forfeiture of the entitlement to the coupon payments. The Lufthansa Group intends to make up for the deferred coupon payments as soon as possible once the stabilization by the ESF has been completed.
Lufthansa Group has not issued any other corporate bonds or financial instruments with options to suspend interest or coupon payments.
Responsible: Dennis Weber, Vice President Investor Relations, Phone +49 69 696 28000
19-May-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
Deutsche Lufthansa AG
Venloer Str. 151-153
50672 Cologne
Germany
Phone:
+49 (0)69 696 28000
Fax:
+49 (0)69 696 90990
E-mail:
investor.relations@dlh.de
Internet:
www.lufthansagroup.com/investor-relations
ISIN:
DE0008232125, DE0008232125
WKN:
823212
Indices:
DAX
Listed:
Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover; Regulated Unofficial Market in Tradegate Exchange
Deutsche Lufthansa AG is a Germany-based aviation company, which provides passenger and cargo air transportation services worldwide. The Company's segments include Passenger Airlines, Logistics, MRO and Catering. The Passenger Airlines segment includes Lufthansa Airlines, SWISS, Austrian Airlines, Brussels Airlines and Eurowings. The Logistics segment includes the airfreight container management specialist Jettainer group, the time:matters Group, which specialises in urgent shipments, the subsidiary Heyworld, which specialises in tailored solutions for the e-commerce sector, CB Customs Broker, the customs and customs clearance specialist, and the Lufthansa Groupâs 50% stake in the cargo airline AeroLogic. The MRO segment, represented by the Lufthansa Technik group, is a global provider of maintenance, repair and overhaul services for civil and commercial aircraft. The Catering segment consists of traditional catering and onboard retail along with food commerce activities.