07:42 AM EDT, 08/12/2024 (MT Newswires) -- JetBlue Airways ( JBLU ) said Monday that it plans to offer $400 million of convertible senior notes due 2029.

The carrier expects to grant initial purchasers a 13-day option to buy up to an additional $60 million of the notes.

Net proceeds are expected to be used to repurchase a portion of its existing 0.50% senior convertible notes due 2026 and for general corporate purposes, JetBlue ( JBLU ) said.

JetBlue ( JBLU ) separately said that it and subsidiary JetBlue Loyalty plan to launch a private offering of $1.5 billion of senior secured notes due 2031 and a $1.25 billion senior secured Term Loan B due 2029.

Proceeds from the Loyalty notes and term loan are expected to be used for general corporate purposes, JetBlue ( JBLU ) said.

JetBlue ( JBLU ) shares were down by nearly 6% in recent premarket trading.

Price: 5.70, Change: -0.35, Percent Change: -5.79