Proficient Auto Logistics prices USD 75 million convertible senior notes offering
PAL•Convertible notes priced for refinancing needs
Proficient Auto Logistics priced a USD 75 million private offering of convertible senior notes due 2033.
- The notes carry a 5.5% coupon, and settlement is expected Aug. 13.
- The initial conversion price is set at about USD 6.5 a share, a 27.5% premium to the Aug. 11 close.
- Net proceeds are estimated at about USD 71.4 million and are earmarked for refinancing debt and capped call premiums.
