Polycom announces $400M buyback, shares +8% premarket

The buyback is good for repurchasing 22% of shares at current levels. Polycom (PLCM) will pay for it using existing cash and a $250M term loan. $250M of the shares will be purchased through a Dutch auction self-tender offer. (PR)

All buybacks are expected to be finished within one year. The term loan will carry an interest rate of LIBOR +1.75%, and mature in 5 years.

Polycom shares have been range-bound for a long time, and remain well below their 2011 highs.

Previous: Polycom halted

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs