Lisbon, June 19, 2026 (Lusa) - TAP Air Portugal plans to issue €350 million in senior bonds, €50 million more than it announced on Wednesday, with a coupon of 4.750% and maturity in 2031.

In a statement released today, the Portuguese flag carrier said that the issue had been increased from the initially planned amount of €300 million.

According to TAP, the bonds will be issued at a price of 99.44951% of their face value, with settlement of the offer scheduled for 26 June, subject to the usual conditions.

The airline added that the gross proceeds from the issue will be used for “general corporate purposes” and to pay commissions and expenses associated with the transaction.

TAP has warned that the bonds have not been registered with the Securities and Exchange Commission, the US financial markets regulator, and will not be registered, and therefore may not be offered or sold in the United States without registration or an applicable exemption.

The offer is intended exclusively for professional investors and eligible counterparties; retail investors are excluded.

The issue comes a week after TAP announced the formal completion of the restructuring plan agreed with the European Commission in 2021, following the sale of its stakes in its catering company Cateringpor and handling company SPdH, formerly Groundforce.

The company is also in the process of partial privatisation, with Air France-KLM and Lufthansa required to submit binding bids by the end of July.

The minister for infrastructure, Miguel Pinto Luz, told Antena1 on Tuesday that the government expects to select the winning bidder by September and that the chosen group could take over co-management of the airline as early as this year, prior to its actual acquisition of a stake in the company, which is estimated to take place in the summer of 2027, following the ‘green light’ from Brussels.

SCR/ADB // ADB.

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