Download full report with analyst certification and important disclosures
May 1 2020, 08:20 IST/BST
IAG
Adding to available liquidity sources
DAVY VIEW
These loans facilities – provided that the required state guarantees are granted – will add around 10% to IAG’s already significant available liquidity of €9.5bn as per its Q1 preliminary results on Tuesday (comprised cash and interest-bearing deposits of €6.95bn and available facilities of €2.55bn). While there is no detail on pricing, we think the five-year terms are beneficial from a debt management perspective.
