- Palo Alto Networks (PANW -2.3%) has priced $1.75B of 0.375% convertible senior unsecured notes due June 1, 2025 in a private placement, with initial purchasers' option of an additional $250M of the notes.
- Expected closing date is June 8, 2020.
- Interest will be payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2020.
- Expected net proceeds of ~$1.7B, of which $147M will be used to pay the cost of the convertible note hedge transactions and the remaining proceeds for general corporate purposes.
- Previously: Palo Alto Networks to issue $1.75B convertible senior notes due 2025 (June 3)