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Vonage prices $300M of 1.75% convertible senior notes

  • Vonage Holdings (NASDAQ:VG) has priced private offering of $300M of 1.75% unsecured Convertible Senior Notes due June 1, 2024.
  • The notes will bear interest at a rate of 1.75% per year, payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2019.
  • The offering of the notes is expected to close on June 14.
  • Net proceeds of ~$291.5M (or $335.4M if the initial purchasers exercise their option) will be used to pay the ~$24.6M cost of the capped call transactions, to repurchase ~$10M in shares and to repay a portion of the outstanding principal balance under its credit facility.
  • Previously: Vonage announces private offering of $300M convertible senior notes (June 10)

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Telefonaktiebolaget LM Ericsson (publ)