SS&C Announces Pricing of Upsized Offering of $1.05 Billion of 2.75% Convertible Senior Notes Due 2031
SS&C priced an upsized $1.05 billion offering of 2.75% convertible senior notes due 2031, up from $1.0 billion, with a $150M option for additional notes. Settlement is expected November 6, 2026. The conversion price is approximately $99.46 per share, a 25% premium to the $79.57 November 4 close, and capped calls with a $139.25 cap price are intended to limit dilution. SS&C will also use roughly $100M of proceeds to repurchase about 1.3 million shares concurrently.
Key figures
- Deal Value Usd
- 1050000000
- Coupon
- 2.75%
- Maturity
- December 1, 2031
- Greenshoe
- $150.0 million
- Net proceeds
- $1,029 million ($1,176 million if option exercised in full)
- Capped call cost
- $99 million
- Conversion price
- 99.46
- Share repurchase
- $100 million (~1.3 million shares at $79.57)
- Revolver increase
- $400.0 million
- Conversion premium
- 25.0%
- 2027 notes to redeem
- $2,000.0 million
- Capped call cap price
- 139.25
- Incremental term a 9 loans
- $240.0 million
- Incremental term b 8 loans
- $750.0 million
AI analysis
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