News Releases

WestJet announces pricing of private offering of $400 million of senior unsecured notes


CALGARY, July 16, 2014 /CNW/ - WestJet Airlines Ltd. (TSX:WJA) today announced it has priced an offering of $400 million of 3.287% senior unsecured notes due July 23, 2019 (the "Notes"). The offering is expected to close July 23, 2014.

The Notes have been assigned a BBB- credit rating by Standard & Poor's Ratings Services. WestJet intends to use the net proceeds from the offering to repay existing bank debt and for general corporate purposes, including to finance aircraft acquisitions.

"We are very pleased with the inaugural offering of WestJet corporate investment grade notes. The investment grade market represents a significant new source of funding for WestJet and adds considerable flexibility to our fleet financing plan going forward," said Vito Culmone, WestJet's Executive Vice-President of Finance and CFO. "The investment grade rating assigned to these notes is a reflection of our track record of profitability, solid market position, and strong liquidity. I want to thank our 10,000 WestJetters for their continuing commitment to delivering our brand of friendly caring service to our guests, which fundamentally makes these accomplishments possible."

The Notes are being offered in Canada on a private placement basis exempt from prospectus requirements under applicable Canadian securities laws. The offering is being made through a syndicate of banks, led by TD Securities Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc. as joint book-runners.

The Notes have not been and will not be qualified for distribution to the public under applicable Canadian securities laws. The Notes have not been and will not be registered under the U.S. Securities Act, or the securities laws of any state of the United States, and may not be offered or sold in the United States unless an exemption from registration requirements is available. The Notes will not be listed on any securities exchange or any automated quotation system. This news release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes in any jurisdiction.

Caution regarding forward-looking information
Certain information set forth in this news release, including, without limitation, information regarding the expected timing and completion of the offering and the final use of net proceeds is forward-looking information within the meaning of applicable Canadian securities law. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including those risk factors described in WestJet's public reports and filings which are available under WestJet's profile at  In particular, the closing of the offering is subject to the satisfaction of customary closing conditions. Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. WestJet does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

About WestJet
We are proud to be Canada's most-preferred airline, powered by an award-winning culture of care and recognized as one of the country's top employers. We offer scheduled service to more than 85 destinations in North America, Central America, the Caribbean and Europe. Through our regional airline, WestJet Encore, and with partnerships with airlines representing every major region of the world, we offer our guests more than 120 destinations in more than 20 countries. Leveraging WestJet's extensive network, flight schedule and remarkable guest experience, WestJet Vacations delivers affordable, flexible travel experiences with a variety of accommodation options for every guest. Members of our WestJet Rewards program earn WestJet dollars on flights, vacation packages and more. Our members use WestJet dollars towards the purchase of WestJet flights and vacation packages on any day, at any time, to any WestJet destination with no blackout periods ̶ even on seat sales. For more information about everything WestJet, please visit

Recent recognition includes:
2014 Interbrand Canada's Best Canadian Brands (Rank #20)
2014 Canada's Most Preferred Airline (Ipsos)
2014 Value Airline of the Year (Air Transport World magazine)
2014/2013/2012 Canada's Most Attractive Employer (Randstad)
2013 Highest equity score: airline, vacation package supplier brands (Harris/Decima EquiTrend Study)
2013 Gold Stevie Award Best Transportation Company (American Business Awards)
2013 Chairman's Circle Award: WestJet Vacations (CPSC)
2013 WestJet RBC MasterCard ranked #1 in Canada (Money Sense magazine)

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