Dynatrace targets $1.25 billion exchangeable senior notes offering

Dynatrace launched a private placement of $1.25 billion Exchangeable Senior Notes due 2031 under Rule 144A.

Initial purchasers receive an option to buy up to an additional $187.5 million of notes within 13 days of issuance.

The notes are senior unsecured at the issuer level, fully guaranteed by Dynatrace, with semiannual interest and maturity on Sept. 1, 2031.

Proceeds are earmarked for hedge and warrant transactions, up to about $200 million of concurrent share repurchases, and general corporate purposes.