Sustainability-Linked senior notes

Issuer TUI AG
Date of issuing March 2024
Total volume €500m
Maturity date March 2029
Denomination €100,000
Annual Coupon 5.875%, payable semi-annually
Issue price 98.93%
Sustainability Key Performance Indicator (KPI) Airline CO2e-Emissions Intensity1
Listing Luxembourg Stock Exchange
Issue Rating B+/B1 (S&P/Moody's)
German Security Code A38255
ISIN (Reg S / 144A) XS2776523669 / XS2776523743
Common Code (Reg S / 144A) 277652366 / 277652374

 

1 Reduce CO2e per Revenue Passenger Kilometer by at least 11% until end of FY26 (from a 2019 baseline); coupon step up by 25 basis points per annum for the remaining term in case sustainability target not achieved

Sustainability-linked finance framework

TUI’s ambition is to actively shape a more sustainable future for tourism in all three dimensions of sustainability – social, environmental and economic. Our Sustainability Agenda builds on tourism as a force for good. Together with our partners we continue to promote the positive effects of tourism on local communities, reduce our e cological footprint and create more sustainable holiday products for our guests.

For this purpose, TUI is endorsing the global efforts in pursuing these targets, in particular the ambitions formulated in the 2015 Paris Agreement on Climate Change. As an important milestone, TUI has committed to 2030 emission reduction targets, which has been validated by the Science-Based Targets Initiative (SBTi).

The publication of our first Sustainability-Linked Finance Framework further emphasizes TUI's commitment, and it strengthens the link between sustainability and financial strategies.

TUI's Sustainability-Linked Finance Framework is designed in accordance with the Sustainability-Linked Bond Principles (SLBP 2023), as administered by the International Capital Market Association (ICMA), as well as the Sustainability-Linked Loan Principles (SLLP 2023), as administered by the Loan Market Association (LMA).


S&P Global Ratings has independently reviewed and evaluated TUI's Sustainability-Linked Finance Framework and issued a Second Party Opinion, that confirms the alignment of the Framework with the related main international standards.