Lufthansa said in a press release that it completed a €2.16bn capital raise proceeds of which were used to repay its €1.5bn state-aid known as stabilization funds that it received as part of a 2020 bailout. The German carrier paid back the first tranche of ‘Silent Participation I’ and expects to pay back the second tranche worth €1bn by the end-2021. “The repayment was made significantly earlier than originally planned”, Lufthansa added. Lufthansa received a €9bn government bailout during the pandemic last year where the German state’s Economic Stabilisation Fund (ESF) took 15% of Lufthansa’s shares. Post last week’s rights issue, their stake was trimmed to 14.09%.
Lufthansa’s bonds were stable with its 3.75% 2028s at 104, yielding 3.02%.
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