Reported Earlier, JetBlue Prices $400M Convertible Senior Notes Offering With 27.5% Conversion Premium, Aiming For Strategic Debt Repurchase
Portfolio Pulse from Benzinga Newsdesk
JetBlue Airways announced the pricing of $400 million convertible senior notes due 2029 with a 27.5% conversion premium. The offering is expected to close on August 16, 2024, and includes an option for an additional $60 million. The notes may be converted at a price of $6.12 per share, a premium over the current price of $4.80.
August 13, 2024 | 6:50 am
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JetBlue Airways has announced a $400 million convertible senior notes offering with a 27.5% conversion premium, aiming for strategic debt repurchase. The notes are convertible at $6.12 per share, a premium over the current price of $4.80.
The issuance of convertible senior notes with a significant conversion premium indicates confidence in future stock price appreciation. This move is likely to be seen positively by investors, potentially boosting short-term stock prices.
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