TUI AG to seek longer maturities for its financings
| Service |
Hanover, November 14, 2003
TUI AG, Europe's largest integrated tourism company, intends to further lengthen the maturity profile of its debt as a step to seek an investment grade rating in the future. After the successful launch of a € 384.5 million convertible bond issue on October 7, a transaction which is expected to close on December 1, TUI AG will consider additional long term financing opportunities, including, but not limited to, the issue of a further bond in December 2003 or January 2004, market conditions permitting.
Disclaimer
No prospectus within the meaning of the German Securities Prospectus Act (the "SPA") has been or will be prepared in connection with offering. The securities will be offered in the Federal Republic of Germany solely to persons who purchase or sell securities as part of their trade, profession or occupation pursuant to Section 2, No. 1 of the SPA and to a restricted circle of investors who have been selected by the offeror(s) and are informed enough to understand the possible investment risks involved pursuant to Section 2, No.2 of the SPA.
This press release does not constitute an offer or invitation to subscribe for or purchase any securities. The securities of TUI AG referred to herein have not been and will not be registered under the applicable securities laws of the United States or of any other jurisdiction and may not be offered, sold or delivered within the United States or to, or for the benefit of, United States persons, absent registration under or an applicable exemption from the registration requirements of the United States securities laws.
The information contained herein is not for publication or distribution in the United States of America, Canada, Australia or Japan.
This press release is directed only at persons who (i) are outside the United Kingdom, or (ii) have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (as amended) (the "Order") or (iii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Order (all such persons together being referred to as "relevant persons"). This press release is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this press release relates is available only to relevant persons and will be engaged in only with relevant persons.
For further information please contact:
Björn Beroleit, phone +49 511 566-1310
Nicola Gehrt, phone +49 511 566-1435