London—Dentons has advised the syndicate of underwriters, including: BNP Paribas, Citi and J.P. Morgan, on the successful issue by Wizz Air of €500 million 1.350% Fixed Rate Guaranteed Notes due 2024 under Wizz Air’s Euro Medium Term Note Programme, which was oversubscribed with books exceeding €2 billion. The Notes were issued by Wizz Air Finance Company B.V. and guaranteed by Wizz Air Holdings Plc. The Dentons team previously advised the dealers on the Programme’s establishment last year.

Wizz Air, listed on the Premium Market of the London Stock Exchange, is the fastest growing and “greenest” airline in Europe, offering more than 920 routes from 40 bases, connecting 173 destinations across 47 countries. Wizz Air intends to use the proceeds of the issuance for general financing purposes.

Dentons’ London-based Capital Markets partner, Nick Hayday, who led on the transaction, said: “We are delighted to have worked closely with the underwriters and the Wizz Air team on such a significant and high-profile bond issuance, which was delivered against the backdrop of challenging market conditions due to the global pandemic and Brexit. The issuance reflects Dentons’ continuing strength in acting for lead managers on international debt capital markets transactions and the Firm’s expertise in the aviation sector.”

Victoria Wyer, senior associate in Dentons’ Capital Markets practice in London, who advised on the transaction, said: “We are delighted to continue to be a part of Wizz Air’s journey, and we are pleased to have assisted the underwriters on this benchmark debut issuance for Wizz Air, which was delivered during challenging times for the aviation industry.”

The Dentons team was led by partner Nick Hayday, assisted by senior associate Victoria Wyer, along with associates Niharika Khimji and Zeeshan Hussain. Clifford Chance LLP acted as legal advisers to Wizz Air with Ogier (Jersey) LLP advising Wizz Air Holdings Plc in Jersey.