Webjet (ASX:WEB) successfully prices 100m convertilble notes
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.
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Source: Finance News Network