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British Airways-owner IAG to raise 1 bln euros in bond issue

LONDON, March 18 (Reuters) - British Airways-owner IAG said it planned to raise about 1 billion euros ($1.20 billion) through a bond issue, further strengthening its finances to help it survive the pandemic should the travel downturn go on longer than expected.

IAG said the senior unsecured bonds would be issued in two tranches, with 500 million euros of bonds due in 2025 and another 500 million euros due in 2029, and final terms due to be determined shortly.

Settlement is expected to take place on Mar. 25. ($1 = 0.8366 euros) (Reporting by Sarah Young; editing by Costas Pitas)

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