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Pandora prices convertible note exchange transactions

Friday 25 May 2018 | 09:04 CET | News
Digital Music service Pandora said it has priced a number of convertible note exchange transactions. The aim of the exchange is to extend the maturity of some notes. The company cut agreements with certain holders of its 1.75 percent senior convertible notes due 2020, to exchange a total of USD 192.9 million worth of these notes for a new series of 1.75 percent senior convertible notes due 2023. The conversion rate for the new notes has been set at an initial conversion price of around USD 9.57 per share. After the exchange, there will be USD 152.1 million worth of old notes and USD 192.9

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Categories: Internet
Companies: Pandora
Countries: United States
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