SunPower off slightly after pricing convertible offering

|About: SunPower Corporation (SPWR)|By:, SA News Editor

SunPower's (SPWR -0.9%) $400M offering of convertible senior notes due 2021 features an interest rate of just 0.875%, and an initial conversion price of $48.76 - a 44% premium to current levels.

Net proceeds are expected to total $395.3M. The offering terms are notably better than the ones Trina just received for its $150M convertible offering.

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