2218 GMT - Flight Centre's decision to repurchase A$140 million of convertible notes looks sensible to Jefferies. That's because it helps to simplify Flight Centre's capital makeup and reduces the potential dilution of its stock. "Given the 1.625% coupon on the repurchased notes is lower than the interest rate earned on cash, our net interest expense forecasts have increased by circa A$5 million annualized," analyst Michael Simotas says. "However, this was more than offset by the reduced dilution, resulting in circa 1% upgrades to diluted EPS." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 27, 2024 17:18 ET (22:18 GMT)
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