Ryanair raises 850 mln in second ever bond issue

(Reuters) - Ryanair raised 850 million euros ($951.32 million) in a bond issue on Tuesday at a rate of 1.12 percent, its second issuance as it seeks to use the highest credit rating in the industry to cut its financing costs.
The bond was issued on the Irish stock exchange at a fixed coupon of 1.125 percent and was three times oversubscribed, Chief Financial Officer Neil Sorahan said in a statement.
The joint book runners were BNP Paribas, Citigroup, and Credit Agricole, Ryanair said in a statement. Ryanair has a BBB+ rating from both Standard & Poor's and Fitch Ratings. ($1 = 0.8935 euros.

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