Conversion and redemption of convertible bonds
International Cons Airlines Group
16 July 2026
16 July 2026
CONVERSION AND REDEMPTION
OF THE OUTSTANDING 1.125% SENIOR UNSECURED CONVERTIBLE BONDS DUE 2028
(ISIN: XS2343113101; the "Bonds")
OF INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.
(the "Issuer")
On 5 June 2026, International Consolidated Airlines Group, S.A. (the "Issuer") gave notice (the "Optional Redemption Notice") to the holders of the Bonds (the "Bondholders"), in accordance with the terms and conditions of the Bonds (the "Conditions"), that the Issuer was exercising its option under Condition 7(b)(ii) to redeem all of the outstanding Bonds on 21 July 2026.
As an alternative to the redemption of the Bonds pursuant to Condition 7(b)(ii), Bondholders were entitled to exercise Conversion Rights in respect of the Bonds.
The Issuer now announces that, following the publication of the Optional Redemption Notice, Conversion Rights have been exercised in respect of all the outstanding Bonds, and the Issuer has exercised its Cash Alternative Election option to satisfy the exercise of all such Conversion Rights by payment of the appropriate Cash Alternative Amounts in accordance with the Conditions. The final Cash Alternative Amount will be paid to the relevant Bondholder on or around 26 August 2026, following which no Bonds will remain outstanding. As a result, no Bonds will be redeemed on 21 July 2026 pursuant to the Optional Redemption Notice, as all outstanding Bonds have instead been, or will instead be, converted and satisfied through payment of the Cash Alternative Amounts.
Words and expressions defined in the Conditions shall have the same meaning when used in this announcement.
Insofar as this announcement is released via the CNMV, it is released further to the inside information communications released on 11 May 2026 (registered with the CNMV under numbers 3,210 and 3,211), the other relevant information communication released on 12 May 2026 (registered with the CNMV under number 40,843), the other relevant information communication released on 21 May 2026 (registered with the CNMV under number 40,989) and the other relevant information communication released on 5 June 2026 (registered with the CNMV under number 41,282).
Issuer's LEI: 959800TZHQRUSH1ESL13
For further information please contact:
International Airlines Group (IAG)
Attention: IAG Investor Relations
Email: investor.relations@iairgroup.com
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