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Splunk plans $1.7B convertible notes offering

Sep. 17, 2018 6:17 PM ETSplunk Inc. (SPLK) StockBy: Jason Aycock, SA News Editor3 Comments
  • Splunk (NASDAQ:SPLK) has proposed a private placement of $1.7B in convertible senior notes.
  • That will consist of an $850M tranche due 2023 and $850M due 2025.
  • Initial purchasers are expected to get an optino to buy up to an additional $127.5M in principal of each of the series.
  • Part of the net proceeds will cover the cost of capped call transactions designed to offset dilution from any conversions.
  • Shares declined 4.7% today; they're down 0.8% after hours.

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