24 February 2021
This announcement contains inside information
Pricing of Debt
easyJet announces that on 24 February 2021 it priced EUR 1,200 million of bonds under its Euro Medium Term Note (EMTN) programme to be issued by its subsidiary easyJet FinCo B.V. (rated BBB- (negative) by Standard & Poor's) on 3 March 2021 and guaranteed by easyJet plc and easyJet Airline Company Limited. The bonds mature in March 2028, have a coupon of 1.875% and will be rated Baa3 (negative) by Moody's and BBB- (negative) by Standard & Poor's, with over 300 pan European investors participating in the issue.
Commenting on the issue, Kenton Jarvis, Chief Financial Officer, said:
"We are very pleased with the success of this bond issue. The interest shown by investors at c.5x oversubscription and the competitive pricing underscores the market's confidence in easyJet's strategy of long-term profitable growth while also significantly strengthening our liquidity position. "
For further details please contact:
Institutional investors and analysts:
Michael Barker Investor Relations +44 (0)7985 890 939
Holly Grainger Investor Relations +44 (0)7583 101 913
Anna Knowles Corporate Communications +44 (0)7985 873 313
Edward Simpkins Finsbury +44 (0)7947 740 551 / (0)207 251 3801
Dorothy Burwell Finsbury +44 (0)7733 294 930 / (0)207 251 3801
London Luton Airport
DISCLAIMER - INTENDED ADDRESSEES
Please note that the information contained in this announcement and the Final Terms may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Offering Circular dated 10 February 2021 (available at http://www.rns-pdf.londonstockexchange.com/rns/6880O_1-2021-2-10.pdf)) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Final Terms is not addressed. Prior to relying on the information contained in this announcement, the Final Terms and the Offering Circular you must ascertain from the Final Terms and the Offering Circular whether or not you are part of the intended addressees of the information contained therein.
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy, securities to any person in the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The notes and the guarantees referred to in the Final Terms and the Offering Circular (the "securities") have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), or under any relevant securities laws of any state of the US and are subject to US tax law requirements. Subject to certain exceptions, the securities may not be offered or sold directly or indirectly within the US or to, or for the account or benefit of, US persons or to persons within the US, as such terms are defined in Regulation S under the Securities Act. Any forwarding, distribution or reproduction of the Final Terms or the Offering Circular in whole or in part is prohibited. Failure to comply with this notice may result in a violation of the Securities Act or the applicable laws of other jurisdictions. There will be no public offering of the securities in the United States.
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Manufacturer target market (EU MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or in the UK.
A credit rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency.
The Offering Circular is available at http://www.rns-pdf.londonstockexchange.com/rns/6880O_1-2021-2-10.pdf. The Final Terms, when published, will be available at www.londonstockexchange.com/news.