Qantas Airways Limited’s A$500 Million Notes Offering

Ashurst has advised Qantas Airways Limited on the transaction.

Qantas Airways Limited issued A$500 million 5.25% Notes due 2030 under its A$2.5 billion Debt Securities Programme, and its repurchase of part of its A$400 million 7.50% Notes due 2021.

Qantas’ successful issuance of Notes, which was oversubscribed, demonstrates the Australian flag carrier’s continued ability to access long term debt capital. This issuance of Notes forms part of Qantas’ ongoing management of its debt maturity profile and strengthening of its short term liquidity.

Qantas is one of few airlines with continued access to long term, unsecured bond markets. Access to this and other funding sources in recent months during the COVID-19 crisis reflects Qantas’ strong overall position, the importance of aviation to its home market of Australia and clear recovery plan.

The Ashurst team was led by partner Caroline Smart (Picture), assisted by lawyer Siak Goh and trainee Davy Hu.

Involved fees earner: Siak Goh – Ashurst; Caroline Smart – Ashurst;

Law Firms: Ashurst;

Clients: Qantas;

Author: Michael Patrini