Virgin Australia Holdings Ltd has announced a fully underwritten $852m Pro-Rata Entitlement offer. The offer is at a price of 21cps to raise equity of approximately $852m. The Offer and recent placement to HNA Innovation will raise total proceeds of $1.011b of new equity capital. Funds will be used to strengthen the balance sheet and repay shareholder loan facilities and other debt facilities.
Eligible Shareholders will be able to purchase 1 new share for each existing VAH at the record date of 7pm Monday 11th July 2016.
UBS is acting as financial advisor to the group and sole underwriter.
