Ryanair bond roadshow spurs ‘a lot of excitement’

An upcoming roadshow for Ryanair has been met with a warm investor reception but the borrower will likely have to field queries about its ambitious expenditure programme and a fall in profits.

The issuer, which mandated BNP Paribas, Citigroup and Deutsche Bank last week, begins investor visits today that will conclude on Friday, and its bond will now surface after unrated Air France- KLM, which could pull the trigger on a rare euro deal as soon as this week.

Chief financial officer Howard Millar said bankers had informed him there was “a lot of excitement” about the roadshow and that the London part had been extended from one to two days. Millar said Ryanair was eyeing a possible seven-year issue.