Palo Alto prices $500M convertible offering

|About: Palo Alto Networks (PANW)|By:, SA News Editor

Palo Alto Networks' (PANW) $500M offering of convertible senior notes due 2019 (first announced on Monday) features a 0% interest rate, and an initial conversion price of $110.28/share (40% above current levels).

Palo Alto expects net proceeds of $486.4M. With the company having no pressing need for cash, fresh M&A activity could be in the cards.