Virgin Australia Notes - Completion of Bookbuild

On 1 November 2019, Virgin Australia Holdings Limited (“VAH” / the “Issuer”) announced the successful completion of the bookbuild for its recently launched offer for Virgin Australia Notes (prospective ASX Code: VAHHA, the “Notes”).

Following strong demand from brokers and institutional investors, the Issuer has allocated $325 million of Notes in the bookbuild and brought forward the bookbuild date to today (originally 4 November 2019).

The Interest Rate was set at 8.00% per annum, in line with launch guidance.

A replacement prospectus is expected to be lodged with ASIC and the ASX on or about 5 November 2019.

The Offer opens on 5 November with the Broker Firm Offer expected to close at 10.00am (AEST) on 25 November 2019.

Given the already strong demand, we would not be surprised to see a final size around $400 million and there are possible risks of an early close to the Broker Offer.

The Notes are expected to be Issued on 26 November 2019 and begin trading (on a deferred settlement basis) on 27 November 2019.