WestJet Airlines Ltd. (TSX:WJA) today announced that it has priced an offering of US$400 million aggregate principal amount of 3.50% senior unsecured notes due June 16, 2021 (the “Notes”). The offering is expected to close on or about June 16, 2016. WestJet intends to use the net proceeds from the offering for general corporate purposes, which includes the purchase of aircraft.
The Notes will be offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in reliance on Regulation S under the Securities Act and in compliance with applicable Canadian securities laws.
The offer and sale of the Notes will not be registered under the Securities Act and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Caution regarding forward-looking statementsCertain information set forth in this news release, including, without limitation, information regarding the expected timing and completion of the offering and the final use of net proceeds is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond WestJet’s control, including those risk factors described in WestJet’s public reports and filings which are available under WestJet’s profile at www.sedar.com. In particular, the closing of the offering is subject to the satisfaction of customary closing conditions. Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. WestJet does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
We are proud to be Canada’s highest-rated airline for customer service, powered by an award-winning culture of care and recognized as one of the country’s top employers. We offer scheduled service to 101 destinations in North America, Central America, the Caribbean and Europe. Through our regional airline, WestJet Encore, and with partnerships with airlines representing every major region of the world, we offer our guests more than 150 destinations in more than 20 countries. Leveraging WestJet’s extensive network, flight schedule and remarkable guest experience, WestJet Vacations delivers affordable, flexible travel experiences with a variety of accommodation options for every guest. Members of our WestJet Rewards program earn WestJet dollars on flights, vacation packages and more. Our members use WestJet dollars towards the purchase of WestJet flights and vacations packages on any day, at any time, to any WestJet destination with no blackout periods ? even on seat sales.