Tag: German Federal Government

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TUI AG reaches agreement with German Federal Government on additional stabilisation package of €1.2 billion

money-tourism1029Leave a Comment on TUI AG reaches agreement with German Federal Government on additional stabilisation package of €1.2 billion

TUI and KfW have agreed to increase the existing KfW tranche by €1.05 billion. The drawing of this amount is subject to (i) the issuance of a Convertible Bond to the Economic Stabilization Fund (WSF) in the amount of €150m and (ii) a waiver by the bondholders of the Senior Notes due in October 2021. […]

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TUI AG: German Federal Government approves KfW bridge loan of 1.8 billion euros

money-tourism713Leave a Comment on TUI AG: German Federal Government approves KfW bridge loan of 1.8 billion euros

TUI AG today received the approval of the German government for a bridging loan of 1.8 billion euros from the KfW. The funds of Germany’s state-owned development bank are to be used to increase TUI’s existing credit line with its banks amounting to 1.75 billion euros (“Revolving Credit Facility”). The KfW bridge loan is subject […]

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