Business
Pricing of Convertible Bond Offering
Pricing of Convertible Bond Offering.
About this update from Jet2 Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6977A\n Jet2 PLC\n 03 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 \n 03 \n June 2021\n \n \n \n Jet2\n \n plc \n \n \n \n PRICING OF CONVERTIBLE BOND OFFERING\n \n \n \n \n \n \n Jet2 plc\n \n (\"\n \n Jet2\n \n \", the \"Group\" or the \"Company\") \n today announces the successful pricing and final terms of its offering (the \"Offering\") of £387.4 million of guaranteed senior unsecured unrated Convertible Bonds due 2026 (the \"ConvertibleBonds\").\n \n \n The Convertible Bonds will be initially guaranteed by Jet2.com Limited and Jet2holidays Limited (the \"Initial Guarantor(s)\"). The terms and conditions of the Convertible Bonds (the \"Conditions\") will provide for provision of guarantees by other subsidiaries of Jet2 and the release of existing guarantors (including the Initial Guarantors) in certain circumstances.\n \n \n The Convertible Bonds will be issued in principal amounts of 100,000 each and will carry a coupon of \n 1.625\n % per annum payable semi-annually in arrear in equal instalments on \n 10 June and 10 December in \n each year, with the first interest payment date being \n 10 December\n 2021 (the \"First Interest Payment Date\"). The Convertible Bonds will be convertible into new and/or existing ordinary shares of the Company (the \"Ordinary Shares\"). The initial conversion price is set at \n 18.06\n , representing a premium of \n 40\n % above the reference share price of \n 12.90\n which is equal to the placement price of an Ordinary Share in the Concurrent Delta Placement (as defined and further described below). The conversion price will be subject to adjustment in certain circumstances in line with market practice.\n \n \n Settlement and delivery of the Convertible Bonds ...