London—Dentons has advised the syndicate of underwriters, including: BNP Paribas and J.P. Morgan, on the second successful issue by Wizz Air of €500 million 1.000% Fixed Rate Guaranteed Notes due 2026.  The notes were issued under Wizz Air's Euro Medium Term Note Programme by Wizz Air Finance Company B.V. and guaranteed by Wizz Air Holdings Plc. Dentons previously advised the underwriters on Wizz Air's debut issuance in 2021 and the establishment of the programme in 2020. 

Wizz Air is an ultra low-cost carrier (ULCC) and the largest low-cost carrier in the CEE, on the basis of scheduled departing seat capacity recorded by Innovata for the financial year of 2021.  Wizz Air intends to use the proceeds of the issuance for general financing purposes.

Dentons' London-based Capital Markets partner, Nick Hayday, who led on the transaction, said: "Wizz Air has shown enormous financial resilience during the pandemic, expanding during a time when many others in the sector have contracted. Working with the underwriters and the Wizz Air team, leveraging both our international debt capital markets and aviation sector experience, has afforded us the opportunity to play a part in this growth story." 

Victoria Wyer, senior associate in Dentons' Capital Markets practice in London, who advised on the transaction, said: "This bond issue will further strengthen Wizz Air's liquidity position, providing the airline with the flexibility and strength to bring its strategic objectives to life.  The fact that this is the second time that Dentons has been called upon to advise the underwriters in relation to a Wizz Air bond issue is a real testament to the strength and expertise of our team." 

The Dentons team was led by partner Nick Hayday, assisted by senior associate Victoria Wyer and associate Zeeshan Hussain. Clifford Chance LLP acted as legal advisers to Wizz Air with Ogier (Jersey) LLP advising Wizz Air Holdings Plc in Jersey.

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