Air NZ to raise $2.2b, $1.2b from rights issue at 53cps

Chair Therese Walsh said the $2.2 capital raising will "refuel" the airline. (Image: Getty)

Wed, 30 Mar 2022

Air New Zealand will sell shares in a deeply discounted rights issue to raise $1.2 billion and secure another $1b of government funding to bolster its balance sheet for a post-covid world.Of the extra government money, $600 million is to be replaced by the sale of $600m of listed debt by June 30, subject to market conditions.The national carrier is undertaking a two-for-one pro-rata renounceable rights offer at 53 cents apiece, a 61% discount to the $1.375 price the shares last traded at today. The government will take part in the equity r...

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