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.
There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.
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Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)