International Consolidated Airlines Group S.A. (IAG) has completed the conversion and cancellation of all outstanding 1.125% Senior Unsecured Convertible Bonds due 2028, with no bonds remaining in circulation.
The company exercised its cash alternative election, fulfilling bondholders' conversion rights through cash payments rather than issuing new shares. The final cash settlement amount was disbursed to bondholders following the completion of the process.
IAG initiated the action by registering inside information with Spain’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), on May 11, 2026. On June 5, 2026, the company notified bondholders of its intent to redeem the outstanding bonds. By July 16, 2026, all bondholders had exercised their conversion rights, negating the need for redemption.
The original redemption date was set for July 21, 2026, but the process concluded on August 27, 2026, with the publication of the final confirmation.
