Press release
JetBlue Announces Proposed Senior Secured Loyalty Notes Offering and Senior Secured Loyalty Term Loan
NEW YORK--(BUSINESS WIRE)-- JetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced that JetBlue and JetBlue Loyalty, LP (the “Loyalty LP”
About this update from Jetblue Airways Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nJetBlue Airways Corporation (NASDAQ: JBLU) (“JetBlue”) today announced that JetBlue and JetBlue Loyalty, LP (the “Loyalty LP” and, together with JetBlue, the “Issuers”), a newly formed Cayman Islands exempted limited partnership and an indirect wholly-owned subsidiary of JetBlue, intend to (1) commence a private offering of a proposed $1,500 million aggregate principal amount of senior secured notes due 2031 (the “Loyalty Notes”) and (2) launch a proposed senior secured Term Loan B due 2029 in an aggregate principal amount of $1,250 million (the “Loyalty Term Loan”).\n\n\nThe Loyalty Notes and the Loyalty Term Loan will each be guaranteed by certain subsidiaries of JetBlue. The Loyalty Notes will be secured, on a pari passu basis with the Loyalty Term Loan, by, among other assets, a first-priority lien on the core assets of JetBlue’s customer loyalty program, TrueBlue®. The Issuers intend to use the net proceeds from the Loyalty Notes and the Loyalty Term Loan 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 Loyalty Notes or any other securities 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 Loyalty Notes are being offered only 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”), and outside the United States in reliance on Regulation S under the Securities Act. The Loyalty Notes proposed to be offered 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 contai...