Jetblue announces $400 million convertible senior notes offering

New york, n.y., aug. 12, 2024 (globe newswire) -- jetblue 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.
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