JetBlue Airways shares fell sharply in trading on Monday after it announced the sale of convertible senior notes to meet its debt obligations.
The Nasdaq-listed stock (JBLU) fell 13.15% to $5.26 at 05:08 p.m. Mecca time, after touching $5.20, its lowest level in 5 sessions.
The US airline said it was seeking to sell convertible bonds due in 2029, in order to buy back 50% of the bonds due in 2026, without disclosing further details.
The remaining proceeds will be used for general corporate purposes, she added, and JetBlue said it intends to give early investors an additional option to purchase up to $60 million in bonds.
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