JetBlue prices $400M convertible notes at 2.50% due 2029; to repurchase existing notes

JETBLUE AIRWAYS CORP

Priced $400M aggregate principal of 2.50% convertible senior notes due 2029; initial purchasers have option for additional $60M.
Initial conversion price ~$6.12 per share (27.5% premium over $4.80 closing price); notes redeemable after Sept 1, 2027.
Net proceeds to repurchase a portion of existing 0.50% senior convertible notes due 2026 and pay fees.
Offering expected to close on or about August 16, 2024; notes offered only to QIBs under Rule 144A.

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