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Published on : Tuesday, June 14, 2016
WestJet Airlines 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 statements
Certain 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.