---
title: "JetBlue Sounds Out Investors on Possible $2.75 Billion Debt Deal"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/210905145.md"
description: "JetBlue Airways Corp. is in talks with lenders for a potential $2.75 billion debt offering backed by its loyalty program. The company is working with Barclays and Goldman Sachs on the transaction. This follows JetBlue's announcement that its loyalty program could be used as collateral for a debt deal. The financing details are still preliminary and subject to change."
datetime: "2024-08-06T20:45:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/210905145.md)
  - [en](https://longbridge.com/en/news/210905145.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/210905145.md)
---

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# JetBlue Sounds Out Investors on Possible $2.75 Billion Debt Deal

JetBlue Airways Corp. has held talks with lenders for a potential $2.75 billion debt offering that would be backed by its loyalty program, making it the latest carrier to undertake such an deal.

The company is working with banks including Barclays Plc and Goldman Sachs Group Inc. on the transaction, which would be a mix of bonds and leveraged loans to refinance debt, according to people with knowledge of the matter who asked not to be identified as the details are private. Conversations are preliminary and details of the financing may change, they added.

Spokespeople for JetBlue, Barclays and Goldman declined to comment.

The so-called premarketing process, during which banks try to get investors committed to a deal, follows JetBlue’s financial chief that its loyalty program could be a source of collateral if the airline pursued a debt deal. Ursula Hurley also said at the time that JetBlue is looking to address convertible maturities “as quickly as possible.” Those include a $750 million note due in 2026.

Using a loyalty program as collateral has been a popular tactic for airlines, which are capital intensive but have valuable assets like their mileage programs. When the pandemic sent airlines into a cash crunch, Delta Air Lines Inc. and United Airlines Holdings Inc. were among borrowers that their loyalty programs as collateral.

Doing a financing deal now could be tricky.

Market tumult followed the US employment report released Aug. 2, sending equities tumbling around the world and causing big swings in credit markets. At least three US leveraged-loan deals have been this week as prices have slumped to 2024 lows in the secondary market. Investors have from actively managed and exchange-traded loan funds at a pace not seen since last year’s regional bank crisis.

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- [Jetblue Airways (JBLU.US)](https://longbridge.com/zh-HK/quote/JBLU.US.md)

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