CHEF - Chefs' Warehouse announces $250M offering of convertible senior notes
- Chefs' Warehouse ( NASDAQ: CHEF ) on Wednesday announced a $250M offering of its convertible senior notes due 2028 in a private placement to qualified institutional buyers.
- The company will grant initial buyers of the notes an option to buy, for settlement within 13 days from, and including, the date of issue, up to an additional $37.5M of convertible notes.
- The notes are expected to pay interest semiannually.
- The convertible notes will mature on December 15, 2028, unless earlier converted, redeemed or repurchased.
- Net proceeds will be used to pay the cash portion of the consideration in concurrent exchange deals and for general corporate purposes.
- Concurrently with the offering, Chefs' Warehouse ( CHEF ) expects to enter into exchange deals with certain holders of its 1.875% convertible senior notes due 2024 to exchange a portion of outstanding existing convertible notes for a combination of cash and shares.
For further details see:
Chefs' Warehouse announces $250M offering of convertible senior notes