A$450m Convertible Notes Offering and Repurchase

• Offering of A$450m senior unsecured convertible notes due 2032
• Concurrent repurchase of up to A$325m of existing convertible notes
• Extends debt maturity profile and provides balance sheet flexibility

Flight Centre Travel Group Limited (ASX:FLT) has launched an offering of A$450m senior unsecured convertible notes due 2032. The offering will allow FLT to fund a concurrent repurchase of up to approximately A$325m of its existing senior unsecured convertible notes due 2027 and 2028, as well as capitalise on growth opportunities and advance its growth plans. The new convertible notes will be listed on the Singapore Exchange Securities Trading Limited (SGX-ST) and will be physically settled by the issuance of new ordinary shares. Concurrent with the offering, FLT intends to repurchase up to A$125m of the existing 2027 notes and up to 100% of the 2028 notes. The repurchase price will be determined through a reverse book-build process, with FLT prioritising participants in the offering for repurchase allocations. The offering and concurrent repurchase will substantially extend FLT's debt maturity profile while allowing the company to continue to benefit from low-cost fixed rate funding.