Lufthansa To Suspend Coupon Payments On 2015 Hybrid Bond

Lufthansa Group said it decided to suspend future coupon payments for the hybrid bond issued in 2015 (maturing in 2075) for the duration of the government stabilization measures, which means until the repayment of the drawn silent participations and the sale of the shareholding in Deutsche Lufthansa AG by the Economic Stabilisation Fund
in Germany.

The decision was based on the view of the EU Commission that such coupon payments constituted a violation of the state aid regulations of the Temporary Framework for state aid to support the economy in view of the outbreak of COVID-19 and the conditions of the state aid approval of the stabilization measures in favor of Lufthansa.

Lufthansa Group intends to make up for the deferred coupon payments as soon as possible once the stabilization by the Economic Stabilisation Fund has been completed.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said it now intends to review only a small subset of new emergency use authorization or EUA requests for diagnostic tests. As per an updated COVID-19 test policy with a view to ensure continued access to tests, the regulator further urged developers of all test types seeking marketing authorization to pursue traditional premarket review for most test types. Netflix, Inc. said it is adding a new feature to offer a more personalized mobile games experience on the platform. In a statement, Sophia Yang, Product Manager, Mobile Games, said the company is rolling out the ability to create game handles, with which members will be able to create a unique public username. This can be used across all Netflix games. General Motors Co. has delayed its plan to require employees to return to office many days a week until next year, reports said citing an internal memo signed by CEO Mary Barra. Last week, the company had announced that corporate workers would be required to return to respective offices at least three days a week, beginning later this year, as the COVID-19 pandemic eases.
Follow RTT