Webjet (ASX:WEB) successfully prices 100m convertilble notes

Company News

by Rachael Jones

Webjet (ASX:WEB) has successfully priced its €100 million, that’s around $1631 million, convertible notes due 2027.

The Notes will have a coupon of 2.50 per cent per annum, paid on a semi-annual basis.

The Notes will be cash-settled, with an initial conversion price of $4.09 per ordinary share.

The net proceeds are to be used to repay $50 million of the Company’s existing term debt whilst extending remaining term debt maturity into late 2022, as well as for potential acquisitions and ongoing capital management.

Shares in Webjet (ASX:WEB) are trading 1.96 per cent higher at $3.64.