Slaughter and May is advising International Consolidated Airlines Group, S.A. (“IAG”) on its proposed rights issue to raise gross proceeds of up to EUR2.75billion, as announced on 31 July 2020.
The rights issue will strengthen IAG’s balance sheet by reducing financial leverage and increasing IAG’s overall liquidity position.
Slaughter and May is supporting IAG’s in-house legal team, Chris Haynes and John Monkcom.
Slaughter and May advised IAG as a combined team with Garrigues, who advised on matters of Spanish law, and Sullivan & Cromwell, who advised on matters of US law. The rights issue is standby underwritten by Goldman Sachs, Morgan Stanley and Deutsche Bank.