LITE - Lumentum Holdings prices upsized $525M convertible notes offering

2023-06-14 05:35:19 ET

• Lumentum Holdings ( NASDAQ: LITE ) has priced upsized $525M ($500M) of 1.50% convertible senior unsecured notes due December 15, 2029 in a private placement.
• Initial purchasers granted an option to purchase up to an additional $78.75M of the notes.
• Offering is expected to close on June 16, 2023 and is expected to result in approximately $520.1M (or approximately $598.2M if the initial purchasers fully exercise their option) in net proceeds.
• Interest will be payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2023.
• Net proceeds will be used to repurchase approximately $125M of 0.250% convertible senior notes due 2024 using approximately $132.8M of the net proceeds of the offering, and buyback approximately $125M of common stock and the remaining net proceeds for general corporate purposes.

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