TUI announces plans to raise approximately €1.0 billion in the debt capital markets
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November 17, 2005
Hanover, Germany, November 17, 2005 – TUI AG ("TUI") announced today that, subject to market and other conditions, it intends to issue approximately €1.0 billion of securities which may take the form of senior notes and non-dilutive subordinated hybrid securities to refinance its existing indebtedness incurred in connection with the acquisition of CP Ships Limited (“CP Ships”), to fund the acquisition of the remaining 11.0 percent shares of CP Ships and to refinance certain CP Ships’ and other indebtedness. TUI expects to launch the offer in the near term.
Information on TUI:
TUI is the largest fully integrated tourism group in Europe and, in terms of turnover, is market leader in Germany, the United Kingdom and France (Europe’s three largest countries in terms of population) as well as a leading tourism group in nine other European countries. TUI also operates a significant shipping division comprising Hapag-Lloyd Container Line and the recently acquired CP Ships, thereby becoming one of the five largest container shipping companies in the world by capacity.
For further information please contact:
Björn Beroleit, phone +49 511 566-1310
Nicola Gehrt, phone +49 511 566-1435
This announcement is for general information only and does not form part of any offer to sell, or the solicitation of any offer to buy, securities. The distribution of this announcement and the offer and sale of the securities described in this announcement in certain jurisdictions may be restricted by law. Any persons reading this announcement should inform themselves of and observe any such restrictions. This announcement may not be taken, distributed or transmitted, directly or indirectly, in any form in or into Italy, the United States, Canada or Japan. This announcement is not an offer of securities for sale in the United States. The offer and sale of the securities referred to in this announcement has not been, nor will it be, registered under the United States Securities Act of 1933 and the securities referred to in this announcement may not be offered or sold in the United States absent such registration or an applicable exemption from registration. There will be no public offer of these securities in the United States.
This communication is directed only at persons who (i) are outside Italy, the United Kingdom, the United States, Canada or Japan or (ii) have professional experience in matters relating to investments or (iii) are persons falling within Article 49 (2)(a) to (d) (“high net worth companies, unincorporated associations etc”) of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (all such persons together being referred to as “relevant persons”). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.
This announcement is not an offer of securities for sale in Germany and is not a listing prospectus according to the German Securities Prospectus Act (Wertpapierprospektgesetz) as amended, the Commission Regulation (EC) No 809/2004 of 29 April 2004 as amended, or any other laws applicable in Germany governing the issue, offering and sale of securities. Any investment decisions or advices for investment decisions should only be made or given based on a prospectus which also includes a section on risk factors.