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J2 Global -3.1% amid $500M debt offering

Nov. 11, 2019 6:31 PM ETZiff Davis, Inc. (ZD) StockBy: Jason Aycock, SA News Editor
  • J2 Global (JCOM) is down 3.1% after announcing a proposed private offering of $500M in debt.
  • The company intends to offer that amount in convertible senior notes due 2026.
  • Purchasers are expected to get a 13-day option to buy up to $50M more of the notes.
  • Part of the net proceeds are to be used to pay off the senior secured credit facility of subsidiary J2 Cloud Services.

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