By Abigail W. Adams
Portland, Me., April 13 – Webjet Ltd. priced A$250 million 0.75% convertible notes due 2026 on April 1 at par with an initial conversion premium of 22.5%, according to a company news release and a listing announcement on the Singapore Exchange.
Goldman Sachs International was global coordinator for the Regulation S offering. HSBC Ltd. was a joint bookrunner.
In connection with the offering, the company extended a conversion invitation to holders of its 2.5% convertible notes due 2027.
Notices were received for €100 million of the 2.5% notes. The company issued 39,682,298 shares and made a cash payment of A$33,295,066 to settle the notes.
Net proceeds from Webjet’s new offering were A$246 million.
Proceeds will be used to repay A$43 million in term debt and for general corporate purposes, which may include acquisitions.
Webjet is a Melbourne, Australia-based digital travel business.
| Issuer: | Webjet Ltd.
|
| Securities: | Convertible notes
|
| Amount: | A$250 million
|
| Maturity: | April 12, 2026
|
| Bookrunners: | Goldman Sachs International and HSBC Ltd.
|
| Coupon: | 0.75%
|
| Price: | Par
|
| Yield: | 0.75%
|
| Conversion premium: | 22.5%
|
| Pricing date: | April 1
|
| Settlement date: | April 12
|
| Distribution: | Regulation S
|
| Stock symbol: | AX: WEB
|
| Stock price: | A$5.18
|
| Market capitalization: | A$1.9 billion
|
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