• Successful pricing of A$450m senior unsecured convertible notes due 2032
• Concurrent repurchase of A$125.0m 2027 Notes and A$100.2m 2028 Notes
• Net proceeds to fund growth opportunities and general corporate purposes

Flight Centre Travel Group Limited (ASX:FLT) has successfully priced its offering of A$450m senior unsecured convertible notes due 2032 (the 'New Notes'). Concurrently, the company has completed a reverse book-build process to repurchase A$125.0m principal amount of the senior unsecured convertible notes due 2027 (the '2027 Notes') and A$100.2m principal amount of the senior unsecured notes due 2028 (the '2028 Notes') (collectively, the 'Existing Notes'). The New Notes will have a coupon of 2.5% per annum, paid on a semi-annual basis. Upon conversion, the New Notes will be physically settled by the issuance of new fully paid ordinary shares in FLT, with an initial conversion price of A$16.4313 per share, representing a 37.5% conversion premium over the reference share price of A$11.95. The net proceeds from the offering are expected to be approximately A$440m, which FLT intends to use to fund the concurrent repurchase, pre-fund the possible investor put of the 2028 Notes, and to capitalize on growth opportunities and for general corporate purposes. Following the repurchase, approximately A$200.0m principal amount of the 2027 Notes and A$99.4m principal amount of the 2028 Notes will remain outstanding.