TUI Travel plc has completed a 400 million pound convertible bond offering, paying 4.9 percent and due in 2017. According to TU, the net proceeds will allow the group to what the prospects called “its strong pipeline of attractive acquisition opportunities and diversify its debt maturity profile and broaden its sources of finance.”

The group is one of the world’s largest travel companies, operating in more than 180 countries with more than 30 million customers a year, and posted revenues of 13.8 billion pounds for its 2009 fiscal year, ended Sept. 30, 2009. Among its some 200 brands is Thomson Cruises.