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JetBlue says it will sell new stock and debentures

Eds: APNewsNow. Will be led.

NEW YORK (AP) — JetBlue Airways Corp. says it plans to raise funds by selling 20 million new shares and $150 million in convertible debentures.

The airline said it will use proceeds from its offers for general corporate purposes. The underwriters of the offer will have the option to buy as many as 3 million more shares and $11.25 million in debentures, which will mature in 2039.

JetBlue had 272.8 million shares outstanding at the end of March. Its stock finished at $5.03, up 17 cents, on Tuesday.

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The underwriters are reserving 15.6 percent of the new shares for sale to Lufthansa AG, which has a stake in JetBlue.

Morgan Stanley will be the sole book-running manager for the offerings. Goldman Sachs and JP Morgan Securities will be co-managers for the debenture offering.

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