Pegasus Bolsters International Liquidity with $149.9 Million Bond Issuance

Pegasus Hava Taşımacılığı A.Ş. (PGSUS) has successfully concluded a $149.9 million bond issuance in international markets, marking a strategic move to optimize its capital structure and strengthen its global financial presence.

Strategic Access to Global Capital via Irish Exchange

According to the regulatory disclosure made on July 16, 2026, the issuance was executed under the Regulation S framework, specifically targeting qualified institutional investors.

■Nominal value: $149,900,000

■Listing venue: Irish Stock Exchange

■Compliance framework: Regulation S

■Completion date: July 16, 2026

Integration with Existing Debt Instruments

The new securities are designed to integrate seamlessly with the company's prior debt obligations to streamline debt management and investor relations.

■The new bonds will mirror the interest rate, maturity, and terms of the existing $500 million bond issued in 2024.

■Following a 40-day period from the issuance date, these bonds will be consolidated into a single series.

■Post-consolidation, the instruments will trade under the same ISIN code as the existing series.

This issuance underscores Pegasus's ability to effectively tap into international credit markets. By aligning the new debt with the terms of the 2024 series, the company is simplifying its debt profile and reducing administrative complexity. From a macro perspective, this move reflects a disciplined approach to managing USD-denominated liabilities, ensuring stability in the company's capital structure amidst fluctuating global interest rate environments.