JetBlue redeems 5.50% convertible debentures

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JetBlue Airways will redeem all of its outstanding 5.50% convertible debentures that are due 2038 at a redemption price equal to 100% of the principal amount of the notes together with accrued and unpaid interest to, but excluding the redemption date.

Approximately $52.15 million of the 5.50% notes remained outstanding as of 27 October, says JetBlue in a statement.
On and after the date of redemption, interest on the 5.50% notes will cease to accrue.

The trustee and paying agent, Wilmington Trust, will send the notices of redemption to the registered holders of the Notes on or about 28 October with an expected redemption date on 3 December.