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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.