Vonage prices USD 300 mln bond offering

Wednesday 12 June 2019 | 12:48 CET | News
Vonage has priced its previously announced offering of USD 300 million worth of convertible senior notes due 2024. Vonage has also granted a greenshoe of USD 45 million more worth of notes. The offering is expected to close on 14 June, subject to the usual closing conditions. The unsecured notes will bear an interest of 1.75 percent per year and mature on 1 June 2024. 

The money raised will used to pay costs of USD 24.6 million for capped call transactions. About USD 10 million will go towards share buybacks. Some more will go towards paying back some of the company's credit facility.

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Categories: General
Companies: Vonage
Countries: World
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