- Trulia (TRLA) plans to sell $150M worth of convertible senior notes due 2020. Underwriters will have a $22.5M overallotment option. Trulia can't redeem the notes before Dec. 2018. (PR)
- The online/mobile real estate platform says it will use $30M of the net proceeds to buy back shares, and another $7.2M to fully pay down a credit facility. The remainder will be used for "working capital and general corporate purposes," and possibly to make acquisitions/investments.
- With Trulia having recently spent $68M in cash to help pay for its $355M acquisition of real estate sales/marketing software vendor Market Leader, the company had only $43.4M in cash/equivalents at the end of Q3, along with $8M in debt.
Trulia announces $150M convertible debt offering, shares -2.3% AH
From other sites
at Investopedia (Apr 10, 2015)
at Investopedia (Apr 6, 2015)
at CNBC.com (Mar 25, 2015)
at 4-traders.com (Mar 24, 2015)
30-Year Fixed Mortgage Rates Fall to 7-Week Low; Current Rate is 3.56%, According to Zillow Mortgage Rate Tickerat 4-traders.com (Mar 24, 2015)
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