Jet2 plc Completes Significant Bond Repurchase

Jet2 plc, a leading Leisure Travel group, has successfully repurchased £301.5 million of its convertible bonds due in 2026. This move accounts for approximately 99% of the outstanding bonds, initially valued at £387.4 million. The bonds, with a 1.625% interest rate, were offered through a reverse bookbuilding process.

The repurchase was conducted at an initial price of £102,500 per £100,000 of principal, with final adjustments based on share prices. The settlement is set for March 18, 2025. The remainder of the bonds, now reduced to £2.9 million, is subject to early redemption under bond terms.

This strategic financial maneuver was managed with the assistance of HSBC Bank plc and Jefferies International Limited, with Rothschild & Co as the financial adviser.