Press release
JetBlue Announces $400 Million Convertible Senior Notes Offering
NEW YORK--(BUSINESS WIRE)-- JetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced that it intends to offer (the “offering”) $400 million
About this update from Jetblue Airways Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nJetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced that it intends to offer (the “offering”) $400 million aggregate principal amount of convertible senior notes due 2029 (the “notes”). JetBlue also expects to grant the initial purchasers of the notes an option to purchase, within a 13-day period from, and including, the date of original issuance of the notes, up to an additional $60 million aggregate principal amount of the notes. JetBlue intends to use the net proceeds from the offering to repurchase a portion of their existing 0.50% senior convertible notes due 2026 in one or more transactions, subject to prevailing market conditions, and to pay fees and expenses related to the offering and incurred in connection with such repayment. Any remaining net proceeds will be used for general corporate purposes.\n\n\nThis press release does not constitute an offer to sell or a solicitation of an offer to buy the notes or the shares of JetBlue’s common stock issuable upon conversion of the notes, and shall not constitute an offer, solicitation or sale in any jurisdiction in which, such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.\n\n\nThe notes will only be offered to persons reasonably believed to be “qualified institutional buyers” in an offering exempt from registration in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The notes proposed to be offered and any shares of JetBlue’s common stock issuable upon conversion of the notes will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act or any applicable state securities laws.\n\n\nForward-Looking Statements\n\n\nThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statemen...