Deals of the Year 2024: Ryanair’s loan conversion highlights growing acceptability of documentation under Irish law
Back
The conversion of an unsecured term loan into its inaugural RCF was a significant deal for Ryanair. But it was of far broader significance in that, despite initial reluctance, the syndicate of 13 banks were persuaded that the facility agreement to be documented under Irish, rather than UK, law.
Europe’s largest airline group, Ryanair, has long been respected for its Treasury management acumen. In this winning deal it converted an existing unsecured €750 million syndicated term loan into an inaugural revolving credit facility – with the maturity extended from 2024 to 2028 and at a lower margin. This helped it repay a €750 million maturing bond in August 2023 and to fund over €2.6 billion of capital expenditure being incurred in 2024. 

To continue, please log in


 
 
 
Forgot your password?
 
The Latest Issue
September 2024 Issue of Finance Dublin

Order a subscription to Finance Dublin

Take out a subscription - I would like to take out a subscription, enabling me to gain immediate access to the site and this month's edition. For details on pricing options and subscription benefits please click here.

Without your explicit permission FinanceDublin.com will never share any of your information (including your e-mail address). Your information is collected in accordance with our Privacy Policy.

If you have any questions, please contact us.

This article appeared in the May 2024 edition.