TAP wins "Issuer of the Year" accolade at Euronext Lisbon Awards

Bond issue on domestic capital market earns the Airline further recognition.

TAP received the “Issuer of the Year” award at the Euronext Lisbon Awards on Monday. The award was presented at the Pavilhão do Conhecimento Science Museum in Lisbon - after evaluation by a jury composed of PSI 20 Committee members - and recognises TAP as the Issuing Entity having performed the operation with the greatest importance and visibility in the Portuguese capital market. 
The reason for this recognition was the first public offering of TAP bonds on the Portuguese capital market, in June 2019, which was also the largest public bond subscription offering by a Corporate Issuer on the Portuguese Capital market since 2012.
The amount raised by this operation - which reached €200 million, i.e. four times the initial value of €50 million - will be used to consolidate TAP’s liabilities over a longer timeline, through debt refinancing, as well as obtaining funds for TAP to finance its current operations.
This recognition occurs one week after the Company was honoured with the “European Debt Deal of the Year” award at the Aviation 100 Awards, awarded by the British magazine Airline Economics, due to the success of its bond issue with international investors in December 2019.
“This award is an important recognition by the financial markets of the work TAP is undertaking, which leaves us highly satisfied and bolsters our confidence as we look to the present and the future that we are building. I wish to thank our employees, not just those working directly in this operation, but everyone who works every day to make TAP a more sustainable, admired and respected company. Thanks to them, this operation was successful. I also wish to thank the thousands of Portuguese investors who relied and continue to rely on TAP,” stated Raffael Quintas, TAP’s Chief Financial Officer, upon accepting the award.
The Euronext Lisbon Awards were established in 2011. Since then they have honoured issuers, financial intermediaries, journalists and other institutions and people who each year play an important role in Portugal’s capital market.