TUI to raise up to €400M

TUI Group HQ

Travel company TUI Group is raising up to €400 million through issuing convertible bonds with the plan to improve its liquidity position and pay back existing financing.

The tourism industry across Europe has been battered by the Covid-19 pandemic and Tui has been one of those to suffer most.

The company is hoping that the vaccine roll-out across Europe means that consumers will be able to travel freely again this summer.

Last month at its AGM, the company said holidaymakers in the UK and Germany were showing “considerable pent-up demand”.