Virgin Australia launches ASX listed notes offer for the acquisition of Velocity

    Virgin Australia lodged (28-Oct-2019) a prospectus with the Australian Securities and Investments Commission (ASIC) for an offer of AUD denominated unsecured notes to be listed on the Australian Securities Exchange (ASX) to raise AUD150 million (USD102.6 million) with the ability to raise more or less. The offer, in conjunction with a USD425 million notes offer, forms part of Virgin Australia’s funding strategy in connection to the 100% acquisition of the Velocity FFP. Notes have a five year maturity with an expected interest rate of 8% p/a. Any surplus proceeds from the offer and the notes in excess of the amount required for the acquisition will be used for general corporate purposes.