WEB Successfully Prices 100 million Euros Convertible Notes

  • Jul 02, 2020 AEST
  • Team Kalkine

Webjet Limited (ASX:WEB) announced the successful pricing its €100 million convertible notes which will be due in 2027. Some highlights include:

  • Notes will have a coupon of 2.50% per annum, paid on a semi-annual basis
  • Notes will be cash-settled, with an initial conversion price of A$4.092 per ordinary share
  • The net proceeds from the Offering are expected to be about €98 million, after deduction of certain expenses
  • Net proceeds will be used to repay A$50 million of the Company’s existing term debt whilst extending remaining term debt maturity into late 2022 as well as for prospective acquisitions and ongoing capital management

Goldman Sachs International is acting as sole global coordinator and joint bookrunner and The Hongkong and Shanghai Banking Corporation is acting as joint bookrunner in connection with the Offering. WEB also plans to lodge an offering circular in connection with the offering with the Singapore Exchange Securities Trading Limited.


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