- ServiceNow (NOW) is taking advantage of this year's big rally to offer $500M worth of convertible senior notes due Nov. 2018. A $75M overallotment option is attached. (PR)
- The cloud IT service desk software vendor says it will use the proceeds for "general corporate purposes, including potential acquisitions and strategic transactions."
- With ServiceNow holding $353M in cash/investments at the end of Q3 and no debt, the company has no pressing need to raise funds. That is, unless it plans to go acquisition hunting.