TUI AG - Syndicated EUR 800,000,000 Revolving Credit and GBP 475,000,000 Bonding Facilities
Bayerische Hypo- und Vereinsbank AG ("HVB Group"), Citigroup Global Markets Limited, The Royal Bank of Scotland and WestLB AG (the "Mandated Lead Arrangers") are pleased to announce that they have been mandated by TUI AG group ("TUI" or the "Company") to arrange a 3 year EUR 800 million Syndicated Revolving Credit and a 1.5 year GBP 475 million Bonding Facility (the "Facilities"). The proceeds of the Facilities will be used for general corporate purposes (including refinancing of existing debt) and for bonding requirements in UK, Ireland and Scandinavia.
The Facilities will comprise of two elements: Facility A, an € 800 million 3 year revolving credit facility which is sub-divided into 2 tranches and Facility B, a GBP 475 million 1.5-year bonding facility. Facility B incorporates a one year extension option. Each of Facility A and Facility B will benefit from the guarantee of TUI AG.
The transaction, which was formally launched into the market on August 11, 2003, will be syndicated among relationship banks of the Company. A Banker’s meeting will be held in Hannover on August 14, 2003.
TUI, the former Preussag AG, is a group active in the tourism and logistics (container shipping) sector. TUI is Europe’s biggest travel group and has access to all important travel markets in Europe. The Company’s shares are listed in the German stock index DAX. For the year 2002, TUI reported consolidated sales of about EUR 12.4 billion and employed more than 70,000 employees worldwide.
In case of any questions you may have, please do not hesitate to contact the following contact persons at either of the Mandated Lead Arrangers:
| Bayerische Hypo- und Vereinsbank AG | Citigroup |
| Christine Seitz | Josef Hoermann |
| Phone: +49 89 378 28557 | Phone: +44 207 986 6012 |
| Fax: +49 89 378 24568 | Fax: +44 207 986 8276 |
| Email: christine.seitz@hvbeurope.com | Email: josef.hoermann@citigroup.com |
| The Royal Bank of Scotland | WestLB |
| Orla McMahon | Dirk Hentschel |
| Phone: +44 207 375 5548 | Phone: +49 211 826 3508 |
| Fax: +44 207 375 5143 | Fax: +49 211 826 3490 |
| Email: orla.mcmahon@rbos.com | Email: dirk.hentschel@westlb.de |