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EasyJet opens books on first ever bond issue

Reuters - UK Focus

By Helene Durand

LONDON, Feb 2 (IFR) - Low budget airline EasyJet (Other OTC: EJTTF - news) has started marketing its first ever bond issue, a 500m maximum seven-year transaction according to a source.

Lead managers Bank of America Merrill Lynch, Barclays (LSE: BARC.L - news) and Societe Generale (Swiss: 519928.SW - news) have set initial price thoughts at 165bp to 170bp over mid-swaps.

EasyJet is rated Baa1/BBB+. The transaction will be priced later on Tuesday subject to market conditions. (Reporting by Helene Durand, editing by Robert Smith)