WestJet has extended the maturity of the majority of its term loan borrowings to 2031 through a new secured term loan facility.
""We are very pleased with this innovative structure, secured by our loyalty program and brand,"" said WestJet Group CFO Mike Scott. ""This opportunistic refinancing transaction enhances our financial flexibility and was oversubscribed, which is reflective of the strength of the WestJet Rewards Loyalty program and the WestJet brand.""
The closing of the new facility, subject to customary conditions, is expected to occur on February 14, 2024.
WestJet refinances majority of existing term loan facility to 2031
