Jet2 plc

Canaccord Genuity acts as Co-Lead Manager and Joint Bookrunner to Jet2 plc on its £387 million Convertible Bond Offering and Delta Placing

Canaccord Genuity’s Corporate Broking team is pleased to announce it has acted as Co-Lead Manager in respect of the convertible bond offering and Joint Bookrunner in respect of the concurrent delta placement for Jet2 plc.

Jet2 plc (AIM: JET2) is a leisure travel group that specialises in the provision of licensed package holidays by its acclaimed tour operator, Jet2holidays, to leisure destinations in the Mediterranean, the Canary Islands and to European Leisure Cities, and the provision of scheduled holiday flights by its award-winning airline, Jet2.com.

The proceeds of the issuance of the Convertible Bonds will be used to strengthen Jet2's balance sheet further and position the Company for a strong recovery as lockdown restrictions are lifted, through fleet growth and fleet renewal opportunities. In addition to the Convertible Bonds and the Company's existing revolving credit facility, Jet2 has also signed a new unsecured £150 million term loan as further liquidity to enhance balance sheet capability and flexibility.

The offering was significantly over subscribed, with the Convertible Bonds being placed with new and existing institutional investors.