05:35 AM EDT, 08/13/2024 (MT Newswires) -- JetBlue Airways ( JBLU ) said Monday that it priced $400 million of its 2.5% convertible senior notes due 2029.

The notes can be converted at an initial price of about $6.12 per share of JetBlue's ( JBLU ) common stock.

Initial purchasers have been granted an option to buy up to an additional $60 million of the notes.

Net proceeds from the offering, which is expected to close on or about Friday, will be used primarily to repurchase a portion of the company's existing 0.5% senior convertible notes due 2026.

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