Business
Issue of Debt
Issue of Debt.
About this update from Jet2 Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6378A\n Jet2 PLC\n 02 June 2021\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION\n \n \n \n \n \n THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION\n \n \n \n \n \n 02 \n June 2021\n \n \n \n \n Jet2 plc \n \n \n \n NEW FINANCING ARRANGEMENTS & CONVERTIBLE BOND OFFERING\n \n \n \n Jet2 plc\n \n (\"\n \n Jet2\n \n \", the \"Group\" or the \"Company\") today announces the \n signing of a new £150 million term loan\n \n and is launching an offering (the \"Offering\") of approximately 375 million of guaranteed senior unsecured unrated convertible bonds due 2026 (the \"Convertible Bonds\").\n \n \n \n Update on current trading, outlook and new financing arrangements\n \n \n Having taken decisive action over the past year, by raising close to £1.0 billion in liquidity from a diversified range of funding sources to mitigate the impacts of the Covid-19 pandemic (including £200 million from the Bank of England's Covid Corporate Financing Facility), our liquidity position is strong, with the Group's cash position as at 31 March 2021 comprising unaudited Total Cash of £1,379 million and \"Own Cash\" (excluding advance customer deposits) of £1,062 million (2020: £520 million), an increase of 104% on the prior year end.\n \n This is ahead of the scenarios outlined at the time of the recent placing in early February 2021.\n \n \n As announced in April, the Company intends to recommence its flying operations on 24 June 2021. Unsurprisingly, current customer booking trends for Summer 2021 reflect the availability of truly accessible, UK Government approved destinations. However, given the continued short-term uncertainty, we remain encouraged by the volume of customer bookings to date for both Winter 2021/22 and for Summer 2022, for which package holiday bookings are displaying a materially higher mix of the total. Based on this limited visib...