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Webjet Announces A$250 Million Convertible Notes Offer

31 Mar 2021  |  19:58:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: WEBJET ANNOUNCES AUD250 MILLION CONVERTIBLE NOTES OFFERING

Webjet advised that it has launched an offer of A$250 million convertible notes due 2026 (the "New Notes") (the "Offering").The New Notes allow Webjet to proactively derisk the refinancing of the current AUD130 million term debt due November 2022, have a materially lower cash interest cost than the current financing arrangements and provide Webjet with the ability to pursue strategic opportunities. As a result of the Offering, Webjet's lenders have extended half of the remaining term debt to November 2023 whilst also agreeing to reduce the minimum liquidity requirement from A$125 million to A$100 million. The final maturity date of the offer is 12 April 2026.

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