2023-05-19 08:30:59 ET
- RingCentral ( NYSE: RNG ) enters repurchase transactions with certain holders of the company’s 0% convertible senior notes due 2025.
- Pursuant to the note repurchases, the company will pay ~$425M in cash to repurchase ~$461M aggregate principal amount of the 2025 notes using amounts drawn under the company’s term loan facility, together with cash on hand.
- The closing is expected May 25, 2023.
- Following the closing of the note repurchases, ~$539M aggregate principal amount of the 2025 notes will remain outstanding.
For further details see:
RingCentral repurchases ~$461M senior notes