Plans $300M convertible senior notes private placement due 2029
Expects to grant initial purchasers a 13-day option to buy up to an additional $45M of notes. - Notes will be senior unsecured obligations, mature July 1st, 2029, accrue interest payable semi-annually and will not be redeemable before maturity. - Interest rate, initial conversion rate and other terms will be set at pricing. - Plans to use up to about $130M of net proceeds to repurchase common stock, a portion with cash on hand to redeem $270M of 4.50% Senior Notes due September 1st, 2026 at par plus accrued and unpaid interest, and remaining proceeds for general corporate purposes.
Expects to grant initial purchasers a 13-day option to buy up to an additional $45M of notes. - Notes will be senior unsecured obligations, mature July 1st, 2029, accrue interest payable semi-annually and will not be redeemable before maturity. - Interest rate, initial conversion rate and other terms will be set at pricing. - Plans to use up to about $130M of net proceeds to repurchase common stock, a portion with cash on hand to redeem $270M of 4.50% Senior Notes due September 1st, 2026 at par plus accrued and unpaid interest, and remaining proceeds for general corporate purposes.