JetBlue launches $1.5B loyalty notes, $1.25B term loan, and $400M convertible notes offering

JETBLUE AIRWAYS CORP

JetBlue and JetBlue Loyalty, LP offer $1.5B senior secured notes due 2031 and $1.25B Term Loan B due 2029, secured by TrueBlue loyalty program assets.
Convertible senior notes offering of $400M (plus $60M option) due 2029; proceeds to repurchase existing 0.50% convertible notes due 2026.
Net proceeds from loyalty financings used for general corporate purposes; convertible notes also cover fees and expenses.
All offerings are private placements under Rule 144A/Reg S; notes not registered under Securities Act.

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