Diodes prices $325 million convertible notes offering
Diodes priced a private placement of USD 325 million0.00% Convertible Senior Notes due 2031.
The deal includes a 13-day option for initial purchasers to buy up to an extra USD 50 million of notes.
Net proceeds are seen at about USD 315.9 million, rising to about USD 364.6 million if the option is fully exercised.
Proceeds are earmarked for USD 19 million capped call costs, a USD 35 million share repurchase, and the remaining funds for general corporate purposes.
The notes convert at 6.8594 shares per USD 1,000, implying a conversion price of about USD 145.79; maturity is set for Aug. 15, 2031.
DIOD•
