TUI AG reaches agreement with German Federal Government on additional stabilisation package of €1.2 billion
(WorldNews Asia)

Inside Information according to article 17 MAR Hanover, 12.08.2020, 13:56 CEST. TUI and KfW have agreed to increase the existing KfW tranche by €1.05 billion. The drawing of this amount is subject to (i) the issuance of a Convertible Bond to the Economic Stabilization Fund (WSF) in the amount of €150m and (ii) a waiver by the bondholders of the Senior Notes due in October 2021. Both conditions and other formal requirements need to be fulfilled by 30 September 2020. The €1.2 billion stabilisation package strengthens TUI`s position and would provide sufficient liquidity in this volatile market environment to cover TUI`s seasonal swing through Winter 2020/21 and thereafter and in the case of...