JetBlue Announces Pricing Of $2 Bln Senior Notes Due 2031, $765 Mln Senior Term Loan

(RTTNews) - Wednesday, JetBlue Airways Corp. (JBLU), in conjunction with JetBlue Loyalty, LP, has announced the pricing of its Loyalty Financings, which include $2 billion in 9.875% senior secured notes maturing in 2031 and a $765 million senior secured Term Loan B maturing in 2029.

The offering of the notes has been increased by $500 million from the initially announced $1.5 billion, resulting in a corresponding reduction in the size of the Term Loan.

The net proceeds from these financings will be allocated for general corporate purposes.

The notes are available exclusively to qualified institutional buyers and to international investors.

The Loyalty Financings are anticipated to close around August 27, 2024, and will be backed by certain subsidiaries of JetBlue, with collateral tied to JetBlue's TrueBlue customer loyalty program.