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BRIEF-Webjet Announces A$250 Mln Convertible Notes Offering

Published 31/03/2021, 07:54 pm
© Reuters.
WEB
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March 31 (Reuters) - Webjet Ltd WEB.AX :

* WEBJET ANNOUNCES A$250 MILLION CONVERTIBLE NOTES OFFERING

* LAUNCHED AN OFFERING OF A$250 MILLION CONVERTIBLE NOTES DUE 2026

* NEW NOTES ALLOW CO TO DERISK REFINANCING OF CURRENT A$130 MILLION TERM DEBT DUE NOV 2022

* AS A RESULT OF OFFERING, LENDERS HAVE EXTENDED HALF OF REMAINING TERM DEBT TO NOVEMBER 2023

* AS A RESULT OF OFFERING, CO'S LENDERS HAVE AGREED TO REDUCE MINIMUM LIQUIDITY REQUIREMENT FROM A$125 MILLION TO A$100 MILLION

* WILL EXTEND A CONVERSION INVITATION TO HOLDERS OF ITS EXISTING EUR100 MILLION 2.50% CONVERTIBLE NOTES DUE 2027

* INTENDED THAT NEW NOTES WILL BE LISTED ON OFFICIAL LIST OF SGX-ST

* NET PROCEEDS FROM OFFERING EXPECTED TO BE USED TO REPAY A$43 MILLION OF CO'S EXISTING TERM DEBT

* NET PROCEEDS FROM OFFERING EXPECTED TO BE USED TO FUND POTENTIAL ACQUISITIONS

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