White & Case advises Deutsche Lufthansa on €500 million hybrid bond issuance

Global law firm White & Case LLP has advised Deutsche Lufthansa AG on the issuance of an unsecured hybrid bond with a total value of €500 million.

The hybrid bond bears interest at 5.25% per annum and has a term of 30 years, with a first issuer call date after six years on January 15, 2031.

The hybrid bond is a subordinated form of financing which, due to its long term, is evaluated by rating agencies with a 50% equity credit. This contributes to further strengthening Deutsche Lufthansa AG´s rating profile. The company had already successfully issued a hybrid bond in 2015, which was refinanced early as part of this transaction.

The hybrid bond was admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The White & Case team in Frankfurt which advised on the transaction included partners Karsten Wöckener and Bodo Bender, local partners Felix Biedermann and Peter Becker, counsel Alexander Born, associate Domenik Mack and transaction lawyer Nejc Jereb.

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