TUI AG (TUIFF.PK,TUI1.DE), a German leisure, travel, and tourism company, announced on Thursday that it has redeemed the outstanding amount of around 118 million euros of its convertible bonds originally due in 2028. The bonds were issued with a coupon of 5% in 2021.
TUI already repurchased 80 percent of the 2028 convertible bonds in 2024, following the placement of new convertible bonds due in 2031. The redemption of the remaining 20 percent will be executed at par, without premium, and completed on November 17.
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