By Anthony O. Goriainoff

Wizz Air Holdings PLC said on Thursday it is raising 500 million euros ($572.1 million) via a bond offering, and that it will use the proceeds for general purposes and the repayment of debt.

The Eastern Europe-focused airline said that the offering, which is expected to close on Jan. 19, was oversubscribed multiple times.

The London-listed budget airline said it will repay a 300 million-pound ($411 million) Covid Corporate Financing Facility in February.

"The proceeds will further support Wizz Air as it scales up to become an even stronger low-cost player in the coming years ," Chief Executive Jozsef Varadi said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

01-13-22 0309ET