Proficient Auto Logistics prices USD 75 million convertible bond offering
PAL•Convertible notes priced at 5.5% coupon
Proficient Auto Logistics priced a USD 75 million private offering of convertible senior notes due 2033.
- The notes carry a 5.5% coupon.
- Settlement is expected on Aug. 13.
- The initial conversion price is about USD 6.5 per share.
- The capped call cap price is initially USD 8.93.
- Net proceeds are estimated at about USD 71.4 million and are earmarked for refinancing debt and capped call premiums.
