TUI AG: TUI launches convertible bonds offering -2-

DJ TUI AG: TUI launches convertible bonds offering

TUI AG (TUI) 
TUI AG: TUI launches convertible bonds offering 
09-Apr-2021 / 08:08 CET/CEST 
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 
(MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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TUI launches convertible bonds offering 
Inside information pursuant to Article 17 MAR 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, 
AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH, OR TO PERSONS IN ANY JURISDICTION TO WHOM, SUCH 
DISTRIBUTION WOULD BE UNLAWFUL. 
The Management Board of TUI AG ('TUI') resolved today, with the consent of the Supervisory Board, to launch an offering 
(the 'Offering') of senior unsecured bonds convertible as per their terms and conditions due 2028 in an aggregate 
principal amount of approx. EUR 350 million with the option to increase the issuance volume to EUR 400 million (the 
'Bonds'). The Bonds will be convertible into new and/or existing no-par value ordinary registered shares of TUI (the 
'Shares'). 
TUI intends to use the proceeds from the Offering to further improve its liquidity position as the Covid-19 crisis 
continues and subsequently for the repayment of existing financing instruments. 
The Bonds with a denomination of EUR 100,000 per Bond will be issued at 100% of their principal amount. Unless previously 
converted, redeemed or repurchased and cancelled, the Bonds will be redeemed at their principal amount on 16 April 
2028. The Bonds will be offered with a coupon between 4.50% and 5.00% per annum, payable semi-annually in arrears. The 
initial conversion price will be set at a conversion premium between 25% and 30% above the reference share price (being 
the volume weighted average price (VWAP) of the Shares on XETRA between launch and pricing of the Offering on 9 April 
2021). 
TUI may redeem all, but not some only, of the Bonds outstanding at their principal amount plus accrued but unpaid 
interest at any time (i) on or after 7 May 2026 if within a certain time period the parity value in respect of a Bond 
in the principal amount of EUR 100,000 exceeds EUR 130,000, or (ii) if at any time the aggregate principal amount of the 
Bonds outstanding and held by persons other than TUI and any of its subsidiaries has fallen to 20% or less of the 
aggregate principal amount of the Bonds originally issued. Holders of the Bonds will be entitled to require an early 
redemption of their Bonds at their principal amount plus accrued but unpaid interest on the fifth anniversary of the 
Bonds' issue. 
The Bonds will be offered by way of an accelerated bookbuilding to institutional investors outside the United States of 
America as well as outside of Australia, Japan, South Africa and any other jurisdiction in which offers or sales of the 
Bonds would be prohibited by applicable law (the 'Offering'). In Canada, the Offering will only be made in the 
provinces of Ontario, Québec, British Columbia or Alberta, to institutional investors who are both an accredited 
investor and a Canadian permitted client under applicable Canadian securities laws. The existing shareholders' 
pre-emptive rights (Bezugsrechte) to the Bonds will be excluded. 
TUI has agreed not to offer any Shares or equity-linked securities within a period of 60 calendar days after the 
settlement of the Offering, and not to enter into any transaction having a similar economic effect, subject to 
customary exemptions. 
The final terms of the Bonds are expected to be determined and announced through a separate press release later today. 
Settlement is expected to take place on or around 16 April 2021. TUI intends to apply for the Convertible Bonds to be 
included to trading on the unregulated Open Market Segment (Freiverkehr) of the Frankfurt Stock Exchange. 
For further information, please contact: 
ANALYST & INVESTOR ENQUIRIES 
Mathias Kiep, Group Director Investor Relations, Controlling & Corporate Finance Tel: [phone]/ 
                                         [phone] 
 
Nicola Gehrt, Director, Head of Group Investor Relations             Tel: [phone] 
Contacts for Analysts and Investors in UK, Ireland and Americas 
Hazel Chung, Senior Investor Relations Manager                  Tel: [phone] 
 
Contacts for Analysts and Investors in Continental Europe, Middle East and Asia 
Ina Klose, Senior Investor Relations Manager                   Tel: [phone] 
MEDIA ENQUIRIES 
Kuzey Alexander Esener, Head of Media Relations                 Tel: + 49 (0)511 566 6024 

..

IMPORTANT NOTICE

This announcement may not be published, distributed or transmitted, directly or indirectly, in the United States of America (including its territories and possessions), Australia, South Africa, Japan or any other jurisdiction where such announcement could be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons who are in possession of this document or other information referred to herein should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not constitute an offer of, or a solicitation of an offer to purchase, securities of the Company or of any of its subsidiaries in the United States of America, Germany or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, an offer in any jurisdiction. The securities offered will not be and have not been registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act.

In the United Kingdom, this announcement is only directed at qualified investors' within the meaning of Regulation (EU) 2017/1129 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (the 'EUWA') who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the 'Order') or (ii) are persons falling within Article 49(2) (a) to (d) of the Order (high net worth companies, unincorporated associations, etc. (all such persons together being referred to as 'Relevant Persons')). This document must not be acted on, or relied upon, by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

In member states of the European Economic Area the placement of securities described in this announcement is directed exclusively at persons who are 'qualified investors' within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (Prospectus Regulation).

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ('MiFID II'); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the 'MiFID II Product Governance Requirements'), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any 'manufacturer' (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Bonds have been subject to a product approval process, which has determined that: (i) the target market for the Bonds is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the Bonds to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Bonds (a 'distributor') should take into consideration the manufacturer's target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Bonds (by either adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels. The target market assessment is without prejudice to the requirements of any contractual or legal selling restrictions in relation to any offering of the Bonds and/or the underlying shares. For the avoidance of doubt, the target market assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MIFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any action whatsoever with respect to the Bonds.

(MORE TO FOLLOW) Dow Jones Newswires

April 09, 2021 02:08 ET (06:08 GMT)

DJ TUI AG: TUI launches convertible bonds offering -2-

The Bonds are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA or the United Kingdom (the 'UK'). For these purposes, a 'retail investor' means (a) in the EEA, a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MIFID II; (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the 'Insurance Distribution Directive'), where that customer would not qualify as a professional client as defined in point (10) of article 4(1) of MIFID II, and (b) in the UK, a person who is one (or more) of (i) a retail client within the meaning of Regulation (EU) no 2017/565 as it forms part of UK domestic law by virtue of the EUWA or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 of the UK (the 'FSMA') and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of regulation (EU) No 600/2014 as it forms part of UK domestic law by virtue of the EUWA.

Consequently, no key information document required by Regulation (EU) No 1286/2014 (the 'EU PRIIPs Regulation') or the EU PRIIPS Regulation as it forms part of UK domestic law by virtue of the EUWA (the 'UK PRIIPS Regulation') for offering or selling the Bonds or otherwise making them available to retail investors in the EEA or the UK has been prepared and therefore offering or selling the Bonds or otherwise making them available to any retail investor in the EEA or the UK may be unlawful under the EU PRIIPs Regulation and/or the UK PRIIPS Regulation.

No action has been taken that would permit an offering or an acquisition of the securities or a distribution of this announcement in any jurisdiction where such action would be unlawful. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

This announcement does not constitute a recommendation concerning the placement. Investors should consult a professional advisor as to the suitability of the placement for the person concerned.

This announcement may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company ('forward-looking statements'). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'may,' 'will' or 'should' or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of the Company and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions. -----------------------------------------------------------------------------------------------------------------------

ISIN:      DE000TUAG000 
Category Code: MSCU 
TIDM:      TUI 
LEI Code:    529900SL2WSPV293B552 
OAM Categories: 2.2. Inside information 
Sequence No.:  97957 
EQS News ID:  1182688 
 
End of Announcement EQS News Service 
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(END) Dow Jones Newswires

April 09, 2021 02:08 ET (06:08 GMT)